Bill Text: TX HB3133 | 2011-2012 | 82nd Legislature | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to the appraisal for ad valorem tax purposes of property on which housing is being or has been built or repaired for sale or rent to a low-income individual or family.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Passed) 2011-06-17 - Effective immediately [HB3133 Detail]
Download: Texas-2011-HB3133-Introduced.html
Bill Title: Relating to the appraisal for ad valorem tax purposes of property on which housing is being or has been built or repaired for sale or rent to a low-income individual or family.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Passed) 2011-06-17 - Effective immediately [HB3133 Detail]
Download: Texas-2011-HB3133-Introduced.html
82R7040 TJB-F | ||
By: Rodriguez | H.B. No. 3133 |
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relating to the appraisal for ad valorem tax purposes of property on | ||
which housing is being or has been built or repaired for sale to a | ||
low-income individual or family. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 11.181(b), Tax Code, is amended to read | ||
as follows: | ||
(b) Property may not be exempted under Subsection (a) after | ||
the fifth anniversary of the date the organization acquires the | ||
property. Property that received an exemption under Section | ||
11.1825 and that was subsequently transferred by the organization | ||
described by that section that qualified for the exemption to an | ||
organization described by this section may not be exempted under | ||
Subsection (a) after the fifth anniversary of the date the | ||
transferring organization acquired the property. | ||
SECTION 2. Section 11.1825, Tax Code, is amended by adding | ||
Subsection (p-1) to read as follows: | ||
(p-1) Notwithstanding the other provisions of this section, | ||
property transferred from an organization described by this section | ||
to a nonprofit organization that claims an exemption for the | ||
property under Section 11.181(a) is a proper use of and purpose for | ||
owning the property under this section and does not affect the | ||
eligibility of the property for an exemption under this section. | ||
SECTION 3. Section 23.21, Tax Code, is amended by adding | ||
Subsection (c) to read as follows: | ||
(c) In appraising real property that was previously owned by | ||
an organization that received an exemption for the property under | ||
Section 11.181(a) and that was sold to a low-income individual or | ||
family meeting income eligibility standards established by the | ||
organization under regulations or restrictions limiting to a | ||
percentage of the individual's or the family's income the amount | ||
that the individual or family was required to pay for purchasing the | ||
property, the chief appraiser shall take into account the extent to | ||
which that use and limitation and any resale restrictions or | ||
conditions applicable to the property established by the | ||
organization reduce the market value of the property. | ||
SECTION 4. Section 23.55, Tax Code, is amended by adding | ||
Subsection (p) to read as follows: | ||
(p) The sanctions provided by Subsection (a) do not apply to | ||
real property transferred to an organization described by Section | ||
11.181(a) if the organization converts the real property to a use | ||
for which the real property is eligible for an exemption under | ||
Section 11.181(a). | ||
SECTION 5. (a) The changes in law made by this Act to | ||
Sections 11.181 and 11.1825, Tax Code, apply to the taxation of real | ||
property beginning with the 2011 tax year. | ||
(b) The change in law made by this Act to Section 23.55, Tax | ||
Code, applies only to a transfer of real property that occurs on or | ||
after the effective date of this Act. A transfer of real property | ||
that occurs before the effective date of this Act is governed by the | ||
law in effect immediately before the effective date of this Act, and | ||
that law is continued in effect for that purpose. | ||
(c) The change in law made by this Act to Section 23.21, Tax | ||
Code, applies only to an appraisal of real property on or after the | ||
effective date of this Act. An appraisal of real property before the | ||
effective date of this Act is governed by the law in effect | ||
immediately before the effective date of this Act, and that law is | ||
continued in effect for that purpose. | ||
SECTION 6. 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. |