Bill Text: TX HB113 | 2021 | 87th Legislature 2nd Special Session | Introduced
Bill Title: Relating to an exemption from ad valorem taxation of property owned by an economic development corporation and used for a public purpose.
Spectrum: Partisan Bill (Republican 5-0)
Status: (Introduced - Dead) 2021-08-07 - Filed [HB113 Detail]
Download: Texas-2021-HB113-Introduced.html
| 87S20209 SMT-F | ||
| By: Shine | H.B. No. 113 | |
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| relating to an exemption from ad valorem taxation of property owned | ||
| by an economic development corporation and used for a public | ||
| purpose. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 11.11, Tax Code, is amended by adding | ||
| Subsection (k) to read as follows: | ||
| (k) Property owned by a Type A corporation created under | ||
| Chapter 504, Local Government Code, or a Type B corporation created | ||
| under Chapter 505 of that code is exempt from taxation if the | ||
| property is used for a public purpose. | ||
| SECTION 2. The change in law made by this Act applies only | ||
| to a tax year beginning on or after the effective date of this Act. | ||
| SECTION 3. This Act takes effect January 1, 2022. | ||
