Amends the Texas Tax Code to redefine nonprofit community business organizations for property tax exemption eligibility.

This bill amends the Texas Tax Code to redefine "nonprofit community business organization" for property tax exemption purposes. To qualify, an organization must be a nonprofit corporation under Texas law, a nonprofit organization under Section 501(c)(6) of the Internal Revenue Code, and not a statewide organization. It must have been in existence for at least five years, maintained a dues-paying membership of at least 50 members for three years, and meet other criteria such as having a board elected by members and being primarily supported by membership dues.

Amends the Texas Tax Code to redefine nonprofit community business organizations for property tax exemption eligibility.

This bill amends the Texas Tax Code to redefine "nonprofit community business organization" for property tax exemption purposes. To qualify, an organization must be a nonprofit corporation under Texas law, a nonprofit organization under Section 501(c)(6) of the Internal Revenue Code, and not a statewide organization. It must have been in existence for at least five years, maintained a dues-paying membership of at least 50 members for three years, and meet other criteria such as having a board elected by members and being primarily supported by membership dues.