| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | By: Seliger S.B. No. 1120 | |
| 2 | 2 | (Lewis) | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to the exemption from taxation of property of a local | |
| 8 | 8 | government corporation. | |
| 9 | 9 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 10 | 10 | SECTION 1. Subsection (b), Section 431.102, Transportation | |
| 11 | 11 | Code, is amended to read as follows: | |
| 12 | 12 | (b) The property of a local government corporation and a | |
| 13 | 13 | transaction to acquire the property is exempt from taxation in the | |
| 14 | 14 | same manner as a corporation created under Chapter 394, Local | |
| 15 | 15 | Government Code, except that property of a local government | |
| 16 | 16 | corporation created by a municipal power agency that was created | |
| 17 | 17 | under Subchapter C, Chapter 163, Utilities Code, is not exempt from | |
| 18 | 18 | ad valorem taxation if the property is located outside of the | |
| 19 | 19 | boundaries of each of the municipalities that created the municipal | |
| 20 | 20 | power agency. | |
| 21 | 21 | SECTION 2. This Act takes effect immediately if it receives | |
| 22 | 22 | a vote of two-thirds of all the members elected to each house, as | |
| 23 | 23 | provided by Section 39, Article III, Texas Constitution. If this | |
| 24 | 24 | Act does not receive the vote necessary for immediate effect, this | |
| 25 | 25 | Act takes effect September 1, 2011. |