Bill Text: TX HB4645 | 2023-2024 | 88th Legislature | Enrolled
Bill Title: Relating to the exemption from ad valorem taxation of certain property used to provide low-income or moderate-income housing.
Spectrum: Moderate Partisan Bill (Democrat 7-1)
Status: (Passed) 2023-06-13 - Effective on 1/1/24 [HB4645 Detail]
Download: Texas-2023-HB4645-Enrolled.html
H.B. No. 4645 |
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relating to the exemption from ad valorem taxation of certain | ||
property used to provide low-income or moderate-income housing. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 11.1825, Tax Code, is amended by adding | ||
Subsection (a-1) to read as follows: | ||
(a-1) An organization that leases land under a ground lease | ||
is entitled to an exemption from taxation of the improvements owned | ||
by the organization that the organization constructs or | ||
rehabilitates and uses to provide housing to individuals or | ||
families meeting the income eligibility requirements of this | ||
section. An organization that leases land as described by this | ||
subsection is considered to be the owner of the land for purposes of | ||
the provisions of this section requiring that an organization own | ||
property for the purpose of constructing or rehabilitating a | ||
housing project on the property in order to receive an exemption for | ||
the property. A reference in this section to acquiring property | ||
includes leasing the property as described by this subsection. A | ||
reference in this section to an exemption from taxation or the | ||
appraisal of property means the improvements constructed or | ||
rehabilitated on the property if the property consists of land and | ||
improvements described by this subsection. | ||
SECTION 2. The change in law made by this Act applies only | ||
to an ad valorem tax year that begins on or after the effective date | ||
of this Act. | ||
SECTION 3. This Act takes effect January 1, 2024. | ||
______________________________ | ______________________________ | |
President of the Senate | Speaker of the House | |
I certify that H.B. No. 4645 was passed by the House on May 9, | ||
2023, by the following vote: Yeas 88, Nays 54, 2 present, not | ||
voting. | ||
______________________________ | ||
Chief Clerk of the House | ||
I certify that H.B. No. 4645 was passed by the Senate on May | ||
24, 2023, by the following vote: Yeas 24, Nays 7. | ||
______________________________ | ||
Secretary of the Senate | ||
APPROVED: _____________________ | ||
Date | ||
_____________________ | ||
Governor |