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A BILL TO BE ENTITLED
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AN ACT
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relating to the eligibility for an exemption from ad valorem |
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taxation of property owned by a charitable organization that |
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provides rental housing constructed, rehabilitated, or purchased |
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with money awarded through a program administered by the General |
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Land Office. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 11.18, Tax Code, is amended by adding |
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Subsection (r) to read as follows: |
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(r) The exemption authorized by Subsection (d)(2) does not |
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apply to real property that consists of rental housing constructed, |
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rehabilitated, or purchased wholly or partly with money awarded |
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through a program administered by the General Land Office. |
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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, 2024. |