Section 20.019 - Property Tax Exempt(a) The property of the authority, its income, and its operations are exempt from all taxes and assessments imposed by the state and political subdivisions on property acquired or used by the authority under this chapter.(b) If the authority is dissolved, all of its rights and properties vest in the state.Added by Acts 1987, 70th Leg., ch. 728, Sec. 1, eff. 6/20/1987.