Texas Special District Local Laws Code 3503.154 – Exemption From Taxation
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Texas Special District Local Laws Code 3503.154
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Property: means real and personal property. See Texas Government Code 311.005
The property, revenue, and income of the authority and of each nonprofit corporation created under § 3503.111 are exempt from all taxes imposed by the state or a political subdivision of the state.