Texas HB4240 amends tax law to exempt from ad valorem taxation property owned by charitable organizations providing financial support for medical.

Texas HB4240 amends the Tax Code to exempt from ad valorem taxation property owned by charitable organizations that provide financial support for medical care at certain institutions of higher education. The bill specifies that the exemption applies to property used exclusively for charitable purposes, including providing medical care without regard to the beneficiaries' ability to pay. The changes in law apply to ad valorem tax years beginning on or after the effective date of the Act, which is January 1, 2026.

Texas HB4240 amends tax law to exempt from ad valorem taxation property owned by charitable organizations providing financial support for medical.

Texas HB4240 amends the Tax Code to exempt from ad valorem taxation property owned by charitable organizations that provide financial support for medical care at certain institutions of higher education. The bill specifies that the exemption applies to property used exclusively for charitable purposes, including providing medical care without regard to the beneficiaries' ability to pay. The changes in law apply to ad valorem tax years beginning on or after the effective date of the Act, which is January 1, 2026.