| |
| |
| |
|
|
AN ACT
|
|
|
relating to the exemption from taxation of property of a local |
|
|
government corporation. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Subsection (b), Section 431.102, Transportation |
|
|
Code, is amended to read as follows: |
|
|
(b) The property of a local government corporation and a |
|
|
transaction to acquire the property is exempt from taxation in the |
|
|
same manner as a corporation created under Chapter 394, Local |
|
|
Government Code, except that property of a local government |
|
|
corporation created by a municipal power agency that was created |
|
|
under Subchapter C, Chapter 163, Utilities Code, is not exempt from |
|
|
ad valorem taxation if the property is located outside of the |
|
|
boundaries of each of the municipalities that created the municipal |
|
|
power agency. |
|
|
SECTION 2. 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. |
|
|
|
|
|
|
| |
| |
| |
| |
______________________________ |
______________________________ |
| |
President of the Senate |
Speaker of the House |
| |
|
|
I hereby certify that S.B. No. 1120 passed the Senate on |
|
|
May 5, 2011, by the following vote: Yeas 31, Nays 0. |
|
|
|
| |
| |
______________________________ |
| |
Secretary of the Senate |
| |
|
|
I hereby certify that S.B. No. 1120 passed the House on |
|
|
May 25, 2011, by the following vote: Yeas 140, Nays 6, three |
|
|
present not voting. |
|
|
|
| |
| |
______________________________ |
| |
Chief Clerk of the House |
| |
|
|
|
| |
|
|
Approved: |
|
|
|
|
|
______________________________ |
|
|
Date |
|
|
|
|
|
|
|
|
______________________________ |
|
|
Governor |