82R9930 MTB-F
By: Seliger S.B. No. 1120
A BILL TO BE ENTITLED
AN ACT
relating to the exemption from taxation of property of a local
government corporation.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 431.102(b), Transportation Code, is
amended to read as follows:
(b) The property of a local government corporation that is
located within the boundaries of a local government that the local
government corporation was created to aid and act on behalf of and a
transaction to acquire that [the] property are [is] exempt from
taxation in the same manner as a corporation created under Chapter
394, Local Government Code.
SECTION 2. 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.