Texas § LG.303.042 - TAXATION
Full text of Texas The Texas Constitution § LG.303.042 — TAXATION, with citation guidance and answers to common questions.
§ LG.303.042. TAXATION
TAXATION; EXEMPTION. (a) A public facility, including a leasehold estate in a public facility, that is owned by a corporation and that, except for the purposes and nonprofit nature of the corporation, would be taxable to the corporation under Title 1, Tax Code, shall be assessed to the user of the public facility to the same extent and subject to the same exemptions from taxation as if the user owned the public facility. If there is more than one user of the public facility, the public facility shall be assessed to the users in proportion to the value of the rights of each user to occupy, operate, manage, or use the public facility. (b) The user of a public facility is considered the owner of the facility for purposes of the application of: (1) sales and use taxes in the construction, sale, lease, or rental of the public facility; and (2) other taxes imposed by this state or a political subdivision of this state. (c) Subject to Section 303.0421 (h), a corporation is engaged exclusively in performance of charitable functions and is exempt from taxation by this state or a municipality or other political subdivision of this state. Bonds issued by a corporation under this chapter, a transfer of the bonds, interest on the bonds, and a profit from the sale or exchange of the bonds are exempt from taxation by this state or a municipality or other political subdivision of this state. Added by Acts 1999, 76th Leg., ch. 227, Sec. 11, eff. Sept. 1, 1999. Amended by Acts 2001, 77th Leg., ch. 1493, Sec. 1, eff. Aug. 31, 2002. Amended by: Acts 2015, 84th Leg., R.S., Ch. 488 (H.B. 2679 ), Sec. 5, eff. June 16, 2015. Acts 2023, 88th Leg., R.S., Ch. 1169 (H.B. 2071 ), Sec. 3, eff. June 18, 2023. Acts 2023, 88th Leg., R.S., Ch. 1169 (H.B. 2071 ), Sec. 6, eff. June 18, 2023. Acts 2023, 88th Leg., R.S., Ch. 1169 (H.B. 2071 ), Sec. 7, eff. June 18, 2023.
Frequently Asked Questions About Texas § LG.303.042
What does The Texas Constitution § LG.303.042 cover?
Section LG.303.042 ("TAXATION") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § LG.303.042?
A common citation format is "The Texas Constitution § LG.303.042" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § LG.303.042 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.