Bill Text: TX HB1576 | 2011-2012 | 82nd Legislature | Introduced


Bill Title: Relating to the monitoring of compliance with low-income and moderate-income housing ad valorem tax exemptions.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Engrossed - Dead) 2011-05-13 - Referred to Finance [HB1576 Detail]

Download: Texas-2011-HB1576-Introduced.html
  82R9182 SMH-F
 
  By: Garza H.B. No. 1576
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the monitoring of compliance with low-income and
  moderate-income housing ad valorem tax exemptions.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 11.1826, Tax Code, is amended by adding
  Subsection (g) to read as follows:
         (g)  For purposes of determining whether an organization has
  satisfied the requirements of Subsection (b) or (e) of this section
  in order to qualify for an exemption under Section 11.1825 or
  11.182, respectively, an opinion included in an audit of the
  organization prepared by an independent auditor who is licensed by
  this state as a certified public accountant or a determination of
  tax-exempt status under Section 501(c), Internal Revenue Code of
  1986, issued by the United States Internal Revenue Service is prima
  facie evidence of the facts stated in the opinion or determination.
         SECTION 2.  This Act applies only to ad valorem taxes imposed
  for a tax year beginning on or after the effective date of this Act.
         SECTION 3.  This Act takes effect January 1, 2012.
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