Bill Text: TX SB1120 | 2011-2012 | 82nd Legislature | Comm Sub
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to the exemption from taxation of property of a local government corporation.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2011-06-17 - Effective immediately [SB1120 Detail]
Download: Texas-2011-SB1120-Comm_Sub.html
Bill Title: Relating to the exemption from taxation of property of a local government corporation.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2011-06-17 - Effective immediately [SB1120 Detail]
Download: Texas-2011-SB1120-Comm_Sub.html
By: Seliger | S.B. No. 1120 | |
(In the Senate - Filed March 3, 2011; March 16, 2011, read | ||
first time and referred to Committee on Intergovernmental | ||
Relations; May 3, 2011, reported adversely, with favorable | ||
Committee Substitute by the following vote: Yeas 5, Nays 0; | ||
May 3, 2011, sent to printer.) | ||
COMMITTEE SUBSTITUTE FOR S.B. No. 1120 | By: Nichols |
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relating to the exemption from taxation of property of a local | ||
government corporation. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Subsection (b), Section 431.102, Transportation | ||
Code, is amended to read as follows: | ||
(b) The property of a local government corporation and a | ||
transaction to acquire the property is exempt from taxation in the | ||
same manner as a corporation created under Chapter 394, Local | ||
Government Code, except that property of a local government | ||
corporation created by a municipal power agency that was created | ||
under Subchapter C, Chapter 163, Utilities Code, is not exempt from | ||
ad valorem taxation if the property is located outside of the | ||
boundaries of each of the municipalities that created the municipal | ||
power agency. | ||
SECTION 2. This Act takes effect immediately if it receives | ||
a vote of two-thirds of all the members elected to each house, as | ||
provided by Section 39, Article III, Texas Constitution. If this | ||
Act does not receive the vote necessary for immediate effect, this | ||
Act takes effect September 1, 2011. | ||
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