Sec. 20.019. PROPERTY TAX EXEMPT. (a) The property of the authority, its income, and its operations are exempt from all taxes and assessments imposed by the state and political subdivisions on property acquired or used by the authority under this chapter.
(b) If the authority is dissolved, all of its rights and properties vest in the state.
Added by Acts 1987, 70th Leg., ch. 728, Sec. 1, eff. June 20, 1987.
Structure Texas Statutes
Title 2 - Water Administration
Subtitle C - Water Development
Chapter 20 - Texas Water Resources Finance Authority
Subchapter B. Administrative Provisions
Section 20.011. Creation of Authority
Section 20.012. Board of Directors
Section 20.013. Compensation; Reimbursement
Section 20.014. Organization of Board
Section 20.015. Board Meetings
Section 20.016. Rules and Resolutions
Section 20.018. General Fiscal Authority
Section 20.019. Property Tax Exempt
Section 20.020. Fiscal Year; Annual Audit