Section 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.Tex. Spec. Dist. Loc. Laws § 3503.1541
Added by Acts 2019, Texas Acts of the 86th Leg.- Regular Session, ch. 333,Sec. 1, eff. 1/1/2020.