Section 1477.117 - Exemption From Assessment or Taxation(a) A county is not required to pay any assessment on a natural gas system or any part of a natural gas system acquired or constructed under this subchapter.(b) A bond issued under this subchapter, a transfer of the bond, and the income from the bond, including any profit made from the sale of the bond, are exempt from taxation by this state or a political subdivision of this state.Tex. Gov't. Code § 1477.117
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. 9/1/1999.