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  89R4884 DRS-F     By: Hefner H.B. No. 3291       A BILL TO BE ENTITLED   AN ACT   relating to the public purpose designation and taxation of certain   projects of Type A economic development corporations.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Subchapter A, Chapter 504, Local Government   Code, is amended by adding Section 504.006 to read as follows:           Sec.   504.006.     PUBLIC PURPOSE DESIGNATION; EXEMPTION FROM   TAXATION. (a) Notwithstanding any other law, the legislature   finds for all constitutional and statutory purposes that:                 (1)     a project authorized by Chapter 501 is owned,   used, and held for a public purpose for and on behalf of the   municipality that authorized the creation of the Type A   corporation; and                 (2)     except as otherwise provided by this section,   Section 501.160 of this code and Section 25.07(a), Tax Code, do not   apply to a leasehold or other possessory interest granted by a Type   A corporation during the period the corporation owns projects on   behalf of the authorizing municipality.           (b)     A project is exempt from ad valorem taxation under   Section 11.11, Tax Code, for the period prescribed by Subsection   (a)(2).          SECTION 2.  This Act applies only to ad valorem taxes imposed   for a tax year that begins on or after the effective date of this   Act.          SECTION 3.  This Act takes effect September 1, 2025.