TX
Texas House Bill HB4833

Texas 2023 - 88th Regular

Texas House Bill HB4833

Voted on by House
 
Out of Senate Committee
 
Voted on by Senate
 
Governor Action
 
Bill Becomes Law
 

Caption

Relating to the taxation of a leasehold or other possessory interest in a public facility granted by a public facility corporation.

Impact

This legislative change is expected to impact local government revenues derived from such leasehold interests, effectively creating a new taxation landscape for public facility operations. By altering how leaseholds are taxed, the legislature aims to address potential disparities in taxation and create a more unified system regarding public facilities across Texas. Stakeholders in public facility corporations should prepare for changes in their operational budgeting as a result of this legislative adjustment.

Summary

House Bill 4833 aims to alter the taxation framework regarding leaseholds or other possessory interests in public facilities managed by public facility corporations. By repealing Section 303.042(f) of the Local Government Code, the bill proposes a significant change in how these interests are taxed. The repeal signifies a transition in the legal treatment of existing leasehold agreements starting from the bill's effective date of January 1, 2024, although prior agreements will remain unaffected under the previous legal provisions.

Sentiment

The sentiment surrounding HB4833 appears to lean towards encouraging streamlined fiscal operations within public facility management. However, as this is a topic of public financial interest, concerns may arise regarding the anticipated implications for funding and operation of local public facilities depending on how this bill is perceived by different local governments and the entities managing these facilities. Communities potentially impacted by this bill may express a mixture of support for improved fiscal stability and caution about the repercussions of these changes.

Contention

Notable points of contention that may arise concerning HB4833 include debates over local governance rights versus state-level regulations regarding public facilities. Some stakeholders might argue that repealing the provision could undermine local control and financial autonomy, whereas supporters may advocate that standardization in taxation is necessary for fairness and consistency across public facility operations statewide.

Texas Constitutional Statutes Affected

Local Government Code

  • Chapter 303. Public Facility Corporations
    • Section: 042

Companion Bills

TX SB805

Identical Relating to the taxation of a leasehold or other possessory interest in a public facility granted by a public facility corporation.

TX HB2607

Same As Relating to the taxation of a leasehold or other possessory interest in a public facility granted by a public facility corporation.

TX HB2607

Same As Relating to the taxation of a leasehold or other possessory interest in a public facility granted by a public facility corporation.

TX HB3879

Same As Relating to the taxation of a leasehold or other possessory interest in a public facility granted by a public facility corporation.

TX HB3879

Same As Relating to the taxation of a leasehold or other possessory interest in a public facility granted by a public facility corporation.

Previously Filed As

TX HB2607

Relating to the taxation of a leasehold or other possessory interest in a public facility granted by a public facility corporation.

TX HB3879

Relating to the taxation of a leasehold or other possessory interest in a public facility granted by a public facility corporation.

TX SB805

Relating to the taxation of a leasehold or other possessory interest in a public facility granted by a public facility corporation.

TX HB1096

Relating to the taxation of a leasehold or other possessory interest in a public facility granted by a public facility corporation.

TX SB2259

Relating to removing certain tax exemptions for leasehold or other possessory interests in public facilities granted by public facility corporations.

TX HB3818

Relating to a leasehold or other possessory interest in real property granted by a public facility corporation for a public facility.

TX SB1988

Relating to a leasehold or other possessory interest in real property granted by a public facility corporation for a public facility.

TX HB1556

Relating to requirements for beneficial tax treatment related to a leasehold or other possessory interest in a public facility used to provide affordable housing.

TX HB1286

Relating to requirements for beneficial tax treatment related to a leasehold or other possessory interest in a public facility used to provide affordable housing.

TX HB1634

Relating to requirements for beneficial tax treatment related to a leasehold or other possessory interest in a public facility used to provide multifamily housing.

Similar Bills

No similar bills found.