Tex. Transp. Code § 431.033
Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
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.
Tex. Transp. Code § 431.033