| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 86R8298 SMT-F | |
| 2 | 2 | By: VanDeaver H.B. No. 2958 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to the exemption from ad valorem taxation of certain | |
| 8 | 8 | property owned by the TexAmericas Center. | |
| 9 | 9 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 10 | 10 | SECTION 1. Subchapter D, Chapter 3503, Special District | |
| 11 | 11 | Local Laws Code, is amended by adding Section 3503.1541 to read as | |
| 12 | 12 | follows: | |
| 13 | 13 | Sec. 3503.1541. CERTAIN PROPERTY EXEMPT FROM TAXATION. (a) | |
| 14 | 14 | A leasehold or other possessory interest granted to a person by the | |
| 15 | 15 | authority or by a nonprofit corporation holding title for the | |
| 16 | 16 | authority is owned, used, and held for a public purpose for and on | |
| 17 | 17 | behalf of the authority and is exempt from taxation under Section | |
| 18 | 18 | 11.11, Tax Code. | |
| 19 | 19 | (b) Section 25.07(a), Tax Code, does not apply to a | |
| 20 | 20 | leasehold or other possessory interest granted to a person by the | |
| 21 | 21 | authority or by a nonprofit corporation holding title for the | |
| 22 | 22 | authority during the period the authority or nonprofit corporation | |
| 23 | 23 | owns the estate or interest encumbered by the possessory interest. | |
| 24 | 24 | SECTION 2. This Act applies only to an ad valorem tax year | |
| 25 | 25 | that begins on or after the effective date of this Act. | |
| 26 | 26 | SECTION 3. This Act takes effect January 1, 2020. |