78th Texas Legislature, Regular Session, House Bill 2416, Chapter 288 Page: 2 of 7
7 p.View a full description of this legislative document.
Extracted Text
The following text was automatically extracted from the image on this page using optical character recognition software:
H.B. No. 2416
1 for more than five threee] years.
2 SECTION 1.05. Section 11.21(g), Tax Code, is amended to
3 read as follows:
4 (g) A property may not be exempted under Subsection (a) (2)
5 for more than five [t.he.] years.
6 SECTION 1.06. Section 11.23(1), Tax Code, is amended to
7 read as follows:
8 (1) Incomplete Improvements. A person described by
9 Subsection (a)-(e), (g), or (i)-(k) is entitled to an exemption
10 from taxation of the real property owned by the person consisting of
11 an incomplete improvement that is under active construction or
12 other physical preparation and that is designed and intended to be
13 used by the person for a purpose described by that subsection when
14 complete and the land on which the incomplete improvement is
15 located that will be reasonably necessary for the person's use of
16 the improvement for that purpose. A property may not be exempted
17 under this subsection for more than five [thw-eo] years. For
18 purposes of this subsection, an incomplete improvement is under
19 physical preparation if the person has:
20 (1) engaged in architectural or engineering work, soil
21 testing, land clearing activities, or site improvement work
22 necessary for the construction of the improvement; or
23 (2) conducted an environmental or land use study
24 relating to the construction of the improvement.
25 SECTION 1.07. Section 11.30(b), Tax Code, is amended to
26 read as follows:
27 (b) A property may not be exempted under Subsection (a) (2)
Upcoming Pages
Here’s what’s next.
Search Inside
This document can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Legislative Document.
Texas. Legislature. House of Representatives. 78th Texas Legislature, Regular Session, House Bill 2416, Chapter 288, legislative document, 2003-05/2003-06; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth158450/m1/2/: accessed May 2, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.