Texas § 431.033 EXEMPTION FROM TAXATION.

Texas Statutes

§ 431.033 — EXEMPTION FROM TAXATION.

Texas § 431.033

Code TNTransportation Code

This text of Texas § 431.033 (EXEMPTION FROM TAXATION.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Transportation Code Code Ann. § 431.033 (2026).

Text

Sec. 431.033. EXEMPTION FROM TAXATION. A corporation affects all the people in its area by assuming to a material extent what otherwise might be an obligation or duty of the commission and is a purely public charity under Section 2 , Article VIII, Texas Constitution. However, a corporation is exempt from the franchise tax under Chapter 171 , Tax Code, only if the corporation is exempted by that chapter.

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Sec. 431.033. EXEMPTION FROM TAXATION. A corporation affects all the people in its area by assuming to a material extent what otherwise might be an obligation or duty of the commission and is a purely public charity under Section 2 , Article VIII, Texas Constitution. However, a corporation is exempt from the franchise tax under Chapter 171 , Tax Code, only if the corporation is exempted by that chapter.