Sec. 58.038. TAX STATUS OF BONDS. The bonds issued by the authority, any transaction relating to the bonds, and any profits made in the sale of the bonds are free from taxation by the state or by any city, county, special district, or other political subdivision of the state; provided that this section does not exempt the owner of any property financed under this chapter from any ad valorem, sales, use, excise, or other tax levied by the state or any political corporation of this state.
Added by Acts 1987, 70th Leg., 2nd C.S., ch. 32, art. 2, Sec. 1, eff. Oct. 20, 1987; Acts 1989, 71st Leg., ch. 1247, Sec. 1, eff. Sept. 1, 1989.
Structure Texas Statutes
Title 4 - Agricultural Organizations
Chapter 58 - Agricultural Finance Authority
Section 58.031. Issuance of General Obligation Bonds
Section 58.032. Texas Agricultural Fund
Section 58.033. Issuance of Revenue Bonds
Section 58.034. General Provisions Relating to Bonds
Section 58.035. Refunding Bonds
Section 58.036. Payment Enforceable by Mandamus
Section 58.037. Bonds as Investments
Section 58.038. Tax Status of Bonds
Section 58.040. Considerations in Financing
Section 58.041. Issuance of Debt by Texas Public Finance Authority