Texas § 151.341 ITEMS SOLD TO OR USED BY DEVELOPMENT CORPORATIONS.

Texas Statutes

§ 151.341 — ITEMS SOLD TO OR USED BY DEVELOPMENT CORPORATIONS.

Texas § 151.341

Code TXTax Code

This text of Texas § 151.341 (ITEMS SOLD TO OR USED BY DEVELOPMENT CORPORATIONS.) 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. Tax Code Code Ann. § 151.341 (2026).

Text

Sec. 151.341. ITEMS SOLD TO OR USED BY DEVELOPMENT CORPORATIONS.

(a)A taxable item sold, leased, or rented to or stored, used, or consumed by a nonprofit corporation formed under the Development Corporation Act (Subtitle C1, Title 12, Local Government Code), is exempted from the taxes imposed by this chapter if the item is for the exclusive use and benefit of the nonprofit corporation.

(b)The exemption provided by this section does not apply to an item that is a project or a part of a project that is to be leased, sold, or lent by the nonprofit corporation.

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 151.341. ITEMS SOLD TO OR USED BY DEVELOPMENT CORPORATIONS. (a) A taxable item sold, leased, or rented to or stored, used, or consumed by a nonprofit corporation formed under the Development Corporation Act (Subtitle C1, Title 12, Local Government Code), is exempted from the taxes imposed by this chapter if the item is for the exclusive use and benefit of the nonprofit corporation.
(b) The exemption provided by this section does not apply to an item that is a project or a part of a project that is to be leased, sold, or lent by the nonprofit corporation.

Legislative History

Added by Acts 1983, 68th Leg., p. 1038, ch. 235, art. 7, Sec. 1(a), eff. Sept. 1, 1983. Renumbered from Sec. 151.333 by Acts 1987, 70th Leg., ch. 167, Sec. 5.01(a)(52), eff. Sept. 1, 1987. Amended by: Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278 ), Sec. 3.71, eff. April 1, 2009.