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AN ACT
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relating to the exemption from ad valorem taxation of certain |
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property owned by the TexAmericas Center. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter D, Chapter 3503, Special District |
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Local Laws Code, is amended by adding Section 3503.1541 to read as |
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follows: |
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Sec. 3503.1541. CERTAIN PROPERTY EXEMPT FROM TAXATION. |
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(a) A leasehold or other possessory interest granted to a person |
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by the authority or by a nonprofit corporation holding title for the |
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authority is owned, used, and held for a public purpose for and on |
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behalf of the authority and is exempt from taxation under Section |
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11.11, Tax Code. |
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(b) Section 25.07(a), Tax Code, does not apply to a |
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leasehold or other possessory interest granted to a person by the |
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authority or by a nonprofit corporation holding title for the |
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authority during the period the authority or nonprofit corporation |
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owns the estate or interest encumbered by the possessory interest. |
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SECTION 2. This Act applies only to an ad valorem tax year |
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that begins on or after the effective date of this Act. |
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SECTION 3. This Act takes effect January 1, 2020. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I hereby certify that S.B. No. 579 passed the Senate on |
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April 17, 2019, by the following vote: Yeas 31, Nays 0. |
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______________________________ |
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Secretary of the Senate |
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I hereby certify that S.B. No. 579 passed the House on |
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May 15, 2019, by the following vote: Yeas 128, Nays 17, two |
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present not voting. |
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______________________________ |
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Chief Clerk of the House |
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Approved: |
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______________________________ |
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Date |
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______________________________ |
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Governor |