Bill Text: TX SB1606 | 2019-2020 | 86th Legislature | Introduced
Bill Title: Relating to payments in lieu of taxes made by certain conservation and reclamation districts on property used as a reservoir.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2019-03-14 - Referred to Water & Rural Affairs [SB1606 Detail]
Download: Texas-2019-SB1606-Introduced.html
86R12179 SLB-D | ||
By: Hall | S.B. No. 1606 |
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relating to payments in lieu of taxes made by certain conservation | ||
and reclamation districts on property used as a reservoir. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Subchapter E, Chapter 49, Water Code, is amended | ||
by adding Section 49.159 to read as follows: | ||
Sec. 49.159. PAYMENTS IN LIEU OF TAXES. (a) In this | ||
section, "reservoir property" means real property owned by a | ||
district that is acquired for or used as a reservoir. | ||
(b) A district that owns reservoir property shall pay to the | ||
taxing unit in which the reservoir property is located, on or before | ||
January 1 of each year, as a payment in lieu of taxes, an amount | ||
equal to the ad valorem taxes that would have been imposed for the | ||
tax year in which the district acquired the reservoir property on | ||
that property by the taxing unit, without including the value of any | ||
improvements constructed on the property. | ||
SECTION 2. This Act takes effect September 1, 2019. |