EXEMPTION FROM TAXATION.

Tex. TRANSP Code § 431.033.
in effect
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A corporation affects all the people in its area by assuming to a material extent what otherwise might be an obligation or duty of the commission and is a purely public charity under Section 2 , Article VIII, Texas Constitution. However, a corporation is exempt from the franchise tax under Chapter 171 , Tax Code, only if the corporation is exempted by that chapter.
Source: TX Statutes (Official Site)URL: https://statutes.capitol.texas.gov/Fetched: 6/29/2026

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