| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 88R2826 RDS-F | |
| 2 | 2 | By: Shine H.B. No. 398 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to an exemption from ad valorem taxation of property owned | |
| 8 | 8 | by an economic development corporation and used for a public | |
| 9 | 9 | purpose. | |
| 10 | 10 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 11 | 11 | SECTION 1. Section 11.11, Tax Code, is amended by adding | |
| 12 | 12 | Subsection (k) to read as follows: | |
| 13 | 13 | (k) Property owned by a Type A corporation created under | |
| 14 | 14 | Chapter 504, Local Government Code, or a Type B corporation created | |
| 15 | 15 | under Chapter 505 of that code is exempt from taxation if the | |
| 16 | 16 | property is used for a public purpose. | |
| 17 | 17 | SECTION 2. The change in law made by this Act applies only | |
| 18 | 18 | to a tax year beginning on or after the effective date of this Act. | |
| 19 | 19 | SECTION 3. This Act takes effect January 1, 2024. |