By: Seliger S.B. No. 1120
(Lewis)
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. Subsection (b), Section 431.102, Transportation
Code, is amended to read as follows:
(b) The property of a local government corporation and a
transaction to acquire the property is exempt from taxation in the
same manner as a corporation created under Chapter 394, Local
Government Code, except that property of a local government
corporation created by a municipal power agency that was created
under Subchapter C, Chapter 163, Utilities Code, is not exempt from
ad valorem taxation if the property is located outside of the
boundaries of each of the municipalities that created the municipal
power agency.
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.