By: Coleman, Riddle H.B. No. 3064
Substitute the following for H.B. No. 3064:
By: Davis of Dallas C.S.H.B. No. 3064
A BILL TO BE ENTITLED
AN ACT
relating to the exemption from ad valorem taxation of certain
property used to provide low-income or moderate-income housing.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 11.1825, Tax Code, is amended by
amending Subsections (s) and (v) and adding Subsection (z) 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) or as
provided by Subsection (z), 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.
(v) Except as provided by Subsection (z), notwithstanding
[Notwithstanding] any other provision of this section, an
organization may not receive an exemption from taxation of property
described by Subsection (f)(1) by a taxing unit any part of which is
located in a county with a population of at least 1.8 million unless
the exemption is approved by the governing body of the taxing unit
in the manner provided by law for official action.
(z) Notwithstanding any other provision of this section, an
owner of real property described by Subsection (f)(1) or (2) is
entitled to an exemption under this section from taxation of 100
percent of the appraised value of the property regardless of
whether the owner meets the requirements of Subsection (b) or of
Subsections (c) and (d) if:
(1) the owner is exempt from federal income taxation
under Section 501(a), Internal Revenue Code of 1986, as amended, by
being listed as an exempt entity under Section 501(c)(3) of that
code and the owner otherwise qualifies for an exemption for the
property under this section;
(2) the property was previously owned by a local
government corporation created by a municipality under Chapter 431,
Transportation Code, or Chapter 394, Local Government Code, or a
predecessor statute for purposes that include promoting,
developing, encouraging, and maintaining affordable housing in a
tax increment financing reinvestment zone created by the
municipality under Chapter 311, Tax Code; and
(3) the property is located in a county with a
population of at least four million.
SECTION 2. This Act applies only to ad valorem taxes imposed
for a tax year beginning on or after the effective date of this Act.
SECTION 3. This Act takes effect January 1, 2016.