Bill Text: TX SB480 | 2023-2024 | 88th Legislature | Introduced


Bill Title: Relating to the eligibility for an exemption from ad valorem taxation of property owned by a charitable organization that provides rental housing constructed, rehabilitated, or purchased with money awarded through a program administered by the General Land Office.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2023-04-27 - Left pending in committee [SB480 Detail]

Download: Texas-2023-SB480-Introduced.html
  88R2347 TJB-D
 
  By: Kolkhorst S.B. No. 480
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the eligibility for an exemption from ad valorem
  taxation of property owned by a charitable organization that
  provides rental housing constructed, rehabilitated, or purchased
  with money awarded through a program administered by the General
  Land Office.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 11.18, Tax Code, is amended by adding
  Subsection (r) to read as follows:
         (r)  The exemption authorized by Subsection (d)(2) does not
  apply to real property that consists of rental housing constructed,
  rehabilitated, or purchased wholly or partly with money awarded
  through a program administered by the General Land Office.
         SECTION 2.  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.
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