Sec. 3503.1541. CERTAIN PROPERTY EXEMPT FROM TAXATION. (a) A leasehold or other possessory interest granted to a person by the authority or by a nonprofit corporation holding title for the authority is owned, used, and held for a public purpose for and on behalf of the authority and is exempt from taxation under Section 11.11, Tax Code.
(b) Section 25.07(a), Tax Code, does not apply to a leasehold or other possessory interest granted to a person by the authority or by a nonprofit corporation holding title for the authority during the period the authority or nonprofit corporation owns the estate or interest encumbered by the possessory interest.
Added by Acts 2019, 86th Leg., R.S., Ch. 333 (S.B. 579), Sec. 1, eff. January 1, 2020.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle B - Defense Base Development
Chapter 3503 - Texamericas Center
Subchapter D. Additional Financial Provisions
Section 3503.151. Use of Revenue From Other Governmental Entities; Limitation
Section 3503.152. Fees for Use of Other Governmental Entities' Utilities
Section 3503.154. Exemption From Taxation