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A BILL TO BE ENTITLED
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AN ACT
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relating to payments in lieu of taxes made by certain conservation |
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and reclamation districts on property used as a reservoir. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter E, Chapter 49, Water Code, is amended |
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by adding Section 49.159 to read as follows: |
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Sec. 49.159. PAYMENTS IN LIEU OF TAXES. (a) In this |
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section, "reservoir property" means real property owned by a |
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district that is acquired for or used as a reservoir. |
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(b) A district that owns reservoir property shall pay to the |
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taxing unit in which the reservoir property is located, on or before |
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January 1 of each year, as a payment in lieu of taxes, an amount |
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equal to the ad valorem taxes that would have been imposed for the |
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tax year in which the district acquired the reservoir property on |
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that property by the taxing unit, without including the value of any |
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improvements constructed on the property. |
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SECTION 2. This Act takes effect September 1, 2019. |