Bill Text: TX SB545 | 2015-2016 | 84th Legislature | Comm Sub

Texas Senate Bill 545 (Prior Session Legislation)

Bill Title: Relating to the exemption from ad valorem taxation of real property leased to and used by certain schools.

Sponsorship: Partisan Bill (Republican 2)

Status: (Engrossed - Dead) 2015-05-26 - Placed on General State Calendar [SB545 Detail]

Download: Texas-2015-SB545-Comm_Sub.html



	By: Taylor of Galveston	S.B. No. 545

	(Murphy)


	A BILL TO BE ENTITLED
	AN ACT
	relating to the exemption from ad valorem taxation of real property
	leased to and used by certain schools.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION 1. Subchapter B, Chapter 11, Tax Code, is amended by
	adding Section 11.211 to read as follows:
	Sec. 11.211. REAL PROPERTY LEASED TO CERTAIN SCHOOLS. A
	person is entitled to an exemption from taxation of the real
	property that the person owns and leases to an open-enrollment
	charter school authorized by Subchapter D, Chapter 12, Education
	Code, that is qualified as provided by Section 11.21(d) of this code
	if:
	(1) the real property is used exclusively by the
	school for educational functions;
	(2) the real property is reasonably necessary for the
	operation of the school;
	(3) the owner certifies by affidavit to the school
	that the rent for the lease of the real property will be reduced by
	an amount equal to the amount by which the taxes on the property are
	reduced as a result of the exemption;
	(4) the owner provides the school with a disclosure
	document stating the amount by which the taxes on the real property
	are reduced as a result of the exemption and the method the owner
	will implement to ensure that the rent charged for the lease of the
	property fully reflects that reduction; and
	(5) the rent charged for the lease of the real property
	reflects the reduction in the amount of taxes on the property
	resulting from the exemption through a monthly or annual credit
	against the rent.
	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, 2016, but only
	if the constitutional amendment authorizing the legislature to
	exempt from ad valorem taxation real property leased to certain
	schools organized and operated primarily for the purpose of
	engaging in educational functions is approved by the voters. If
	that amendment is not approved by the voters, this Act has no
	effect.