82R22278 TJB-F
By: Rodriguez H.B. No. 3133
Substitute the following for H.B. No. 3133:
By: Hilderbran C.S.H.B. No. 3133
A BILL TO BE ENTITLED
AN ACT
relating to the appraisal for ad valorem tax purposes of property on
which housing is being or has been built or repaired for sale to a
low-income individual or family.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 11.181(b), Tax Code, is amended to read
as follows:
(b) Property may not be exempted under Subsection (a) after
the fifth anniversary of the date the organization acquires the
property. Property that received an exemption under Section
11.1825 and that was subsequently transferred by the organization
described by that section that qualified for the exemption to an
organization described by this section may not be exempted under
Subsection (a) after the fifth anniversary of the date the
transferring organization acquired the property.
SECTION 2. Section 11.1825, Tax Code, is amended by adding
Subsection (p-1) to read as follows:
(p-1) Notwithstanding the other provisions of this section,
property transferred from an organization described by this section
to a nonprofit organization that claims an exemption for the
property under Section 11.181(a) is a proper use of and purpose for
owning the property under this section and does not affect the
eligibility of the property for an exemption under this section.
SECTION 3. Section 23.21, Tax Code, is amended by adding
Subsection (c) to read as follows:
(c) In appraising real property that was previously owned by
an organization that received an exemption for the property under
Section 11.181(a) and that was sold to a low-income individual or
family meeting income eligibility standards established by the
organization under regulations or restrictions limiting to a
percentage of the individual's or the family's income the amount
that the individual or family was required to pay for purchasing the
property, the chief appraiser shall take into account the extent to
which that use and limitation and any resale restrictions or
conditions applicable to the property established by the
organization reduce the market value of the property.
SECTION 4. (a) The changes in law made by this Act to
Sections 11.181 and 11.1825, Tax Code, apply to the taxation of real
property beginning with the 2011 tax year.
(b) The change in law made by this Act to Section 23.21, Tax
Code, applies only to an appraisal of real property on or after the
effective date of this Act. An appraisal of real property before the
effective date of this Act is governed by the law in effect
immediately before the effective date of this Act, and that law is
continued in effect for that purpose.
SECTION 5. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2011.