| 4 | 6 | | AN ACT |
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| 5 | 7 | | relating to the exemption from ad valorem taxation of certain |
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| 6 | 8 | | property owned by the TexAmericas Center. |
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| 7 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 8 | 10 | | SECTION 1. Subchapter D, Chapter 3503, Special District |
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| 9 | 11 | | Local Laws Code, is amended by adding Section 3503.1541 to read as |
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| 10 | 12 | | follows: |
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| 11 | 13 | | Sec. 3503.1541. CERTAIN PROPERTY EXEMPT FROM TAXATION. |
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| 12 | 14 | | (a) A leasehold or other possessory interest granted to a person |
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| 13 | 15 | | by the authority or by a nonprofit corporation holding title for the |
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| 14 | 16 | | authority is owned, used, and held for a public purpose for and on |
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| 15 | 17 | | behalf of the authority and is exempt from taxation under Section |
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| 16 | 18 | | 11.11, Tax Code. |
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| 17 | 19 | | (b) Section 25.07(a), Tax Code, does not apply to a |
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| 18 | 20 | | leasehold or other possessory interest granted to a person by the |
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| 19 | 21 | | authority or by a nonprofit corporation holding title for the |
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| 20 | 22 | | authority during the period the authority or nonprofit corporation |
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| 21 | 23 | | owns the estate or interest encumbered by the possessory interest. |
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| 22 | 24 | | SECTION 2. This Act applies only to an ad valorem tax year |
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| 23 | 25 | | that begins on or after the effective date of this Act. |
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| 24 | 26 | | SECTION 3. This Act takes effect January 1, 2020. |
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| 25 | | - | ______________________________ ______________________________ |
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| 26 | | - | President of the Senate Speaker of the House |
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| 27 | | - | I hereby certify that S.B. No. 579 passed the Senate on |
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| 28 | | - | April 17, 2019, by the following vote: Yeas 31, Nays 0. |
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| 29 | | - | ______________________________ |
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| 30 | | - | Secretary of the Senate |
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| 31 | | - | I hereby certify that S.B. No. 579 passed the House on |
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| 32 | | - | May 15, 2019, by the following vote: Yeas 128, Nays 17, two |
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| 33 | | - | present not voting. |
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| 34 | | - | ______________________________ |
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| 35 | | - | Chief Clerk of the House |
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| 36 | | - | Approved: |
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| 37 | | - | ______________________________ |
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| 38 | | - | Date |
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| 39 | | - | ______________________________ |
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| 40 | | - | Governor |
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