Bill > H0695

This bill revises the circumstances under which certain aircraft operations are deemed to serve a governmental, municipal, or public purpose or function. It also provides that certain leasehold interests in governmental property that have been determined to be exempt from ad valorem (property) taxation will remain exempt for the duration of the lease, including any contemplated extensions, as long as the lessee's operations do not change. The bill clarifies that the property appraiser or the value adjustment board can grant the exemption, and once granted, the lessee will not be required to submit any further applications for the exemption for the duration of the lease.