| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | By: Menéndez S.B. No. 1988 | |
| 2 | 2 | ||
| 3 | 3 | ||
| 4 | 4 | A BILL TO BE ENTITLED | |
| 5 | 5 | AN ACT | |
| 6 | 6 | relating to a leasehold or other possessory interest in real | |
| 7 | 7 | property granted by a public facility corporation for a public | |
| 8 | 8 | facility. | |
| 9 | 9 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 10 | 10 | SECTION 1. Section 303.042, Local Government Code, is | |
| 11 | 11 | amended by adding Subsection (f) to read as follows: | |
| 12 | 12 | (f) Notwithstanding Subsections (a) and (b), during the | |
| 13 | 13 | period of time that a corporation owns a particular public | |
| 14 | 14 | facility, a leasehold or other possessory interest in the real | |
| 15 | 15 | property of the public facility granted by the corporation shall be | |
| 16 | 16 | treated in the same manner as a leasehold or other possessory | |
| 17 | 17 | interest in real property granted by an authority under Section | |
| 18 | 18 | 379B.011(b). | |
| 19 | 19 | SECTION 2. This Act takes effect immediately if it receives | |
| 20 | 20 | a vote of two-thirds of all the members elected to each house, as | |
| 21 | 21 | provided by Section 39, Article III, Texas Constitution. If this | |
| 22 | 22 | Act does not receive the vote necessary for immediate effect, this | |
| 23 | 23 | Act takes effect September 1, 2015. |