TITLE: Relating to the taxation of a leasehold or other possessory interest in a public facility granted by a public facility corporation.

SUMMARY: Relating to the taxation of a leasehold or other possessory interest in a public facility granted by a public facility corporation.

FULL TEXT:
AN ACT relating to the taxation of a leasehold or other possessory interest in a public facility granted by a public facility corporation. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 303.042(f), Local Government Code, is repealed. SECTION 2. The repeal of Section 303.042(f), Local Government Code, does not apply to a leasehold or other possessory interest granted before the effective date of this Act. A leasehold or other possessory interest granted before the effective date of this Act is governed by the law in effect immediately before the effective date of this Act, and the former law is continued in effect for that purpose. SECTION 3. This Act takes effect immediately if it receives a vote of two-thirds of all the members elected to each house, as provided by Section 39, Article III, Texas Constitution.