Bill Text: TX SB1120 | 2011-2012 | 82nd Legislature | Engrossed
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-Engrossed.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-Engrossed.html
| By: Seliger | S.B. No. 1120 | |
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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. | ||
