Sec. 1477.117.  EXEMPTION FROM ASSESSMENT OR TAXATION.  (a)  A county is not required to pay any assessment on a natural gas system or any part of a natural gas system acquired or constructed under this subchapter.
(b)  A bond issued under this subchapter, a transfer of the bond, and the income from the bond, including any profit made from the sale of the bond, are exempt from taxation by this state or a political subdivision of this state.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.