By: Hughes S.B. No. 579
(In the Senate - Filed February 1, 2019; February 21, 2019,
read first time and referred to Committee on Property Tax;
April 8, 2019, reported favorably by the following vote: Yeas 4,
Nays 0; April 8, 2019, sent to printer.)
Click here to see the committee vote
A BILL TO BE ENTITLED
AN ACT
relating to the exemption from ad valorem taxation of certain
property owned by the TexAmericas Center.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter D, Chapter 3503, Special District
Local Laws Code, is amended by adding Section 3503.1541 to read as
follows:
Sec. 3503.1541. CERTAIN PROPERTY EXEMPT FROM TAXATION.
(a) A leasehold or other possessory interest granted to a person
by the authority or by a nonprofit corporation holding title for the
authority is owned, used, and held for a public purpose for and on
behalf of the authority and is exempt from taxation under Section
11.11, Tax Code.
(b) Section 25.07(a), Tax Code, does not apply to a
leasehold or other possessory interest granted to a person by the
authority or by a nonprofit corporation holding title for the
authority during the period the authority or nonprofit corporation
owns the estate or interest encumbered by the possessory interest.
SECTION 2. This Act applies only to an ad valorem tax year
that begins on or after the effective date of this Act.
SECTION 3. This Act takes effect January 1, 2020.
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