{"data":{"id":"us-tx/tex.-local-government-code-379a.053","jurisdiction":"us-tx","citation":"Tex. Local Government Code § 379A.053","heading":"NATURE OF CORPORATE PROPERTY.","body":"(a) The legislature finds for all constitutional and statutory purposes that the corporation owns, uses, and holds its property for public purposes.\n(b) Section 25.07(a), Tax Code, does not apply to a leasehold or other possessory interest granted by the corporation.\n(c) Property owned by the corporation is exempt from taxation under Section 11.11, Tax Code, while the corporation owns the property.\nAdded by Acts 2001, 77th Leg., ch. 149, Sec. 1, eff. May 16, 2001.","path":["LOCAL GOVERNMENT CODE","TITLE 12. PLANNING AND DEVELOPMENT","SUBTITLE A. MUNICIPAL PLANNING AND DEVELOPMENT","CHAPTER 379A. MUNICIPAL DEVELOPMENT CORPORATIONS","SUBCHAPTER D. POWERS OF CORPORATION"],"source_url":"https://statutes.capitol.texas.gov/Docs/LG/htm/LG.379A.htm#379A.053","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:27Z","sha256":"b63747f69c4eba092040a63446b61944b577c33f42ad2425bc534ec78d931d8a","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-local-government-code-379a.052","next":"us-tx/tex.-local-government-code-379a.054"},"notice":"GroundRules: Original legal text. Not legal advice."}