Texas HB5478 amends tax code to allow automatic reinstatement of expired property tax exemptions for charitable organizations.

Texas HB5478 amends the state tax code to allow automatic reinstatement of expired property tax exemptions for charitable organizations. The bill specifies that organizations that had exemptions expire before September 1, 2023, can have their exemptions automatically reinstated for each tax year following the year of expiration, provided they still own the property and meet other conditions. The bill also details procedures for exemption renewal and conditions under which exemptions can be canceled.

Texas HB5478 amends tax code to allow automatic reinstatement of expired property tax exemptions for charitable organizations.

Texas HB5478 amends the state tax code to allow automatic reinstatement of expired property tax exemptions for charitable organizations. The bill specifies that organizations that had exemptions expire before September 1, 2023, can have their exemptions automatically reinstated for each tax year following the year of expiration, provided they still own the property and meet other conditions. The bill also details procedures for exemption renewal and conditions under which exemptions can be canceled.