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Tex. Local Government Code § 373A.102

NATURE OF NONPUBLIC TRUST

Texas · Texas Local Government Code · Status: effective

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Tex. Local Government Code § 373A.102, NATURE OF NONPUBLIC TRUST, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/693148
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A trust that is not created by the governing body of a political subdivision must be a nonprofit organization that is: (1) created to acquire and hold land for the benefit of developing and preserving long-term affordable housing in the district; and (2) exempt from federal income taxation under Section 501(a), Internal Revenue Code of 1986, by being certified as an exempt organization under Section 501(c)(3), Internal Revenue Code of 1986.