Because the property owned by authority will be held for educational purposes only and will be devoted exclusively to the use and benefit of the students, faculty, and staff members of an accredited institution of higher education, it is exempt from taxation of every character.
Tex. Educ. Code § 53A.46
AUTHORITY EXEMPT FROM TAXATION
Known as the Higher Education Facility Authority for Private Schools Act
The act spans §§ 53A.01–53A.49 (27 sections).
Added by Acts 2005, 79th Leg., Ch. 641 (H.B. 2701), Sec. 2, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.