Bill Text: TX HB2958 | 2019-2020 | 86th Legislature | Introduced
Bill Title: Relating to the exemption from ad valorem taxation of certain property owned by the TexAmericas Center.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2019-04-24 - Committee report sent to Calendars [HB2958 Detail]
Download: Texas-2019-HB2958-Introduced.html
| 86R8298 SMT-F | ||
| By: VanDeaver | H.B. No. 2958 | |
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| 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. | ||
