84R14989 T
By: Coleman H.B. No. 3064
A BILL TO BE ENTITLED
AN ACT
relating to the treatment for ad valorem tax purposes of real
property used for certain low-income or moderate-income housing in
certain counties.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 11.1825(s), Tax Code, is amended to read
as follows:
(s) Unless otherwise provided by the governing body of a
taxing unit any part of which is located in a county with a
population of at least 1.8 million under Subsection (x), for
property described by Subsection (f)(1), the amount of the
exemption under this section from taxation is 50 percent of the
appraised value of the property. In counties with a population in
excess of 4,100,000, the amount of the exemption under this section
from taxation is 100 percent of the appraised value of the property
if the property has been determined by the Texas Department of
Housing and Community Affairs to be owned by a nonprofit entity that
meets the requirements of subsection (b).