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