| 1 | 1 | | By: Coleman, Riddle H.B. No. 3064 |
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| 2 | 2 | | Substitute the following for H.B. No. 3064: |
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| 3 | 3 | | By: Davis of Dallas C.S.H.B. No. 3064 |
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| 4 | 4 | | |
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| 5 | 5 | | |
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| 6 | 6 | | A BILL TO BE ENTITLED |
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| 7 | 7 | | AN ACT |
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| 8 | 8 | | relating to the exemption from ad valorem taxation of certain |
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| 9 | 9 | | property used to provide low-income or moderate-income housing. |
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| 10 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 11 | 11 | | SECTION 1. Section 11.1825, Tax Code, is amended by |
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| 12 | 12 | | amending Subsections (s) and (v) and adding Subsection (z) to read |
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| 13 | 13 | | as follows: |
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| 14 | 14 | | (s) Unless otherwise provided by the governing body of a |
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| 15 | 15 | | taxing unit any part of which is located in a county with a |
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| 16 | 16 | | population of at least 1.8 million under Subsection (x) or as |
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| 17 | 17 | | provided by Subsection (z), for property described by Subsection |
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| 18 | 18 | | (f)(1), the amount of the exemption under this section from |
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| 19 | 19 | | taxation is 50 percent of the appraised value of the property. |
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| 20 | 20 | | (v) Except as provided by Subsection (z), notwithstanding |
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| 21 | 21 | | [Notwithstanding] any other provision of this section, an |
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| 22 | 22 | | organization may not receive an exemption from taxation of property |
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| 23 | 23 | | described by Subsection (f)(1) by a taxing unit any part of which is |
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| 24 | 24 | | located in a county with a population of at least 1.8 million unless |
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| 25 | 25 | | the exemption is approved by the governing body of the taxing unit |
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| 26 | 26 | | in the manner provided by law for official action. |
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| 27 | 27 | | (z) Notwithstanding any other provision of this section, an |
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| 28 | 28 | | owner of real property described by Subsection (f)(1) or (2) is |
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| 29 | 29 | | entitled to an exemption under this section from taxation of 100 |
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| 30 | 30 | | percent of the appraised value of the property regardless of |
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| 31 | 31 | | whether the owner meets the requirements of Subsection (b) or of |
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| 32 | 32 | | Subsections (c) and (d) if: |
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| 33 | 33 | | (1) the owner is exempt from federal income taxation |
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| 34 | 34 | | under Section 501(a), Internal Revenue Code of 1986, as amended, by |
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| 35 | 35 | | being listed as an exempt entity under Section 501(c)(3) of that |
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| 36 | 36 | | code and the owner otherwise qualifies for an exemption for the |
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| 37 | 37 | | property under this section; |
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| 38 | 38 | | (2) the property was previously owned by a local |
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| 39 | 39 | | government corporation created by a municipality under Chapter 431, |
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| 40 | 40 | | Transportation Code, or Chapter 394, Local Government Code, or a |
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| 41 | 41 | | predecessor statute for purposes that include promoting, |
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| 42 | 42 | | developing, encouraging, and maintaining affordable housing in a |
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| 43 | 43 | | tax increment financing reinvestment zone created by the |
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| 44 | 44 | | municipality under Chapter 311, Tax Code; and |
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| 45 | 45 | | (3) the property is located in a county with a |
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| 46 | 46 | | population of at least four million. |
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| 47 | 47 | | SECTION 2. This Act applies only to ad valorem taxes imposed |
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| 48 | 48 | | for a tax year beginning on or after the effective date of this Act. |
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| 49 | 49 | | SECTION 3. This Act takes effect January 1, 2016. |
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