89th Legislature, Regular Session
SB 2767
Relating to public facility corporations.
Introduced
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
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By: Cook S.B. No. 2767 A BILL TO BE ENTITLED AN ACT relating to public facility corporations. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 303.041, Local Government Code, is amended by adding Subsection (e) to read as follows: (e) Notwithstanding Subsections (a)(3) and (d), a corporation may not convey, assign, or transfer a tax exemption granted under this subchapter to another entity unless substantially all of the assets of the taxable entity are conveyed, assigned, or transferred in the same transaction. SECTION 2. Section 303.0421, Local Government Code, is