H.B. No. 316
  relating to the ad valorem taxation of certain property that is part
  of certain public transportation facilities or part of certain rail
         SECTION 1.  Section 25.07(b), Tax Code, is amended to read as
         (b)  Except as provided by Sections 11.11(b) [Subsections
  (b)] and (c) [of Section 11.11 of this code], a leasehold or other
  possessory interest in exempt property may not be listed if:
               (1)  the property is permanent university fund land;
               (2)  the property is county public school fund
  agricultural land;
               (3)  the property is a part of a public transportation
  facility owned by a municipality or county [an incorporated city or
  town] and:
                     (A)  is an airport passenger terminal building or
  a building used primarily for maintenance of aircraft or other
  aircraft services, for aircraft equipment storage, or for air
                     (B)  is an airport fueling system facility;
                     (C)  is in a foreign-trade zone:
                           (i)  that has been granted to a joint airport
  board under Chapter 129, Acts of the 65th Legislature, Regular
  Session, 1977 (Article 1446.8, Vernon's Texas Civil Statutes);
                           (ii)  the area of which in the portion of the
  zone located in the airport operated by the joint airport board does
  not exceed 2,500 acres; and
                           (iii)  that is established and operating
  pursuant to federal law; or
                     (D)(i)  is in a foreign trade zone established
  pursuant to federal law after June 1, 1991, which operates pursuant
  to federal law;
                           (ii)  is contiguous to or has access via a
  taxiway to an airport located in two counties, one of which has a
  population of 500,000 or more according to the federal decennial
  census most recently preceding the establishment of the foreign
  trade zone; and
                           (iii)  is owned, directly or through a
  corporation organized under the Development Corporation Act of 1979
  (Article 5190.6, Vernon's Texas Civil Statutes), by the same
  municipality [incorporated city or town] which owns the airport;
               (4)  the interest is in a part of:
                     (A)  a park, market, fairground, or similar public
  facility that is owned by a municipality [an incorporated city or
  town]; or
                     (B)  a convention center, visitor center, sports
  facility with permanent seating, concert hall, arena, or stadium
  that is owned by a municipality [an incorporated city or town] as
  such leasehold or possessory interest serves a governmental,
  municipal, or public purpose or function when the facility is open
  to the public, regardless of whether a fee is charged for admission;
               (5)  the interest involves only the right to use the
  property for grazing or other agricultural purposes;
               (6)  the property is owned by the Texas National
  Research Laboratory Commission or by a corporation formed by the
  Texas National Research Laboratory Commission under Section
  465.008(g), Government Code, and is used or is useful in connection
  with an eligible undertaking as defined by Section 465.021,
  Government Code; [or]
               (7)  the property is:
                     (A)  owned by a municipality, a public port, or a
  navigation district created or operating under Section 59, Article
  XVI, Texas Constitution, or under a statute enacted under Section
  59, Article XVI, Texas Constitution; and
                     (B)  used as an aid or facility incidental to or
  useful in the operation or development of a port or waterway or in
  aid of navigation-related commerce; or
               (8)  the property is part of a rail facility owned by a
  rural rail transportation district created or operating under
  Chapter 623, Acts of the 67th Legislature, Regular Session, 1981
  (Article 6550c, Vernon's Texas Civil Statutes).
         SECTION 2.  This Act takes effect January 1, 2008.
  ______________________________ ______________________________
     President of the Senate Speaker of the House     
         I certify that H.B. No. 316 was passed by the House on March
  13, 2007, by the following vote:  Yeas 140, Nays 0, 1 present, not
  Chief Clerk of the House   
         I certify that H.B. No. 316 was passed by the Senate on May
  22, 2007, by the following vote:  Yeas 31, Nays 0.
  Secretary of the Senate    
  APPROVED:  _____________________