88R2347 TJB-D
By: Kolkhorst S.B. No. 480
A BILL TO BE ENTITLED
AN ACT
relating to the eligibility for an exemption from ad valorem
taxation of property owned by a charitable organization that
provides rental housing constructed, rehabilitated, or purchased
with money awarded through a program administered by the General
Land Office.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 11.18, Tax Code, is amended by adding
Subsection (r) to read as follows:
(r) The exemption authorized by Subsection (d)(2) does not
apply to real property that consists of rental housing constructed,
rehabilitated, or purchased wholly or partly with money awarded
through a program administered by the General Land Office.
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, 2024.