TX HB4650

Limits ad valorem tax exemptions for community land trusts to property located within the municipality or county that created or designated the trust

Allows community land trusts to receive tax exemptions for property in adjacent counties only if the commissioners court of that adjacent county agrees through official action

Applies the same geographic restrictions to housing finance corporations, limiting their tax exemptions to property within the sponsoring municipality or county, or adjacent counties with commissioners court approval

Housing finance corporations remain exempt from license fees, recording fees, and other state and local taxes for property, bonds, and income from bonds within approved geographic areas

Takes effect January 1, 2026, and applies to ad valorem taxes imposed for tax years beginning on or after that date