TX SB2973

Creates a property tax exemption in counties with populations of 3.3 million or more (currently only Harris County qualifies) for real and personal property owned by nonprofit corporations organized for charitable, educational, and scientific purposes

Qualifying property must be used to promote agriculture, support youth, and provide educational support in the community

Allows incidental use of exempt property for other purposes without losing the exemption, provided revenue from such use benefits the charitable organization's beneficiaries

Excludes leasehold or possessory interests held by for-profit lessees from the tax exemption

Once approved, the exemption does not require annual reapplication and takes effect January 1, 2026