HB4946

Amends the Property Tax Code to exempt certain leased or rented properties used for taxing district purposes.

The bill amends the Property Tax Code to provide exemptions for properties leased, subleased, or rented to taxing districts and used exclusively for bona fide taxing district purposes. The exemption applies only to the portion of the property used for these purposes. The bill also specifies that the exemption applies to leases entered into on or after January 1, 1994, unless the lease expressly states otherwise. The bill takes effect immediately upon becoming law.