87S20209 SMT-F
 
  By: Shine H.B. No. 113
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to an exemption from ad valorem taxation of property owned
  by an economic development corporation and used for a public
  purpose.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 11.11, Tax Code, is amended by adding
  Subsection (k) to read as follows:
         (k)  Property owned by a Type A corporation created under
  Chapter 504, Local Government Code, or a Type B corporation created
  under Chapter 505 of that code is exempt from taxation if the
  property is used for a public purpose.
         SECTION 2.  The change in law made by this Act applies only
  to a tax year beginning on or after the effective date of this Act.
         SECTION 3.  This Act takes effect January 1, 2022.