Sec. 1505.214.  EXEMPTION FROM ASSESSMENT OR TAXATION.  (a)  A municipality is not required to pay any assessment on a harbor improvement or facility.
(b)  A bond issued under this subchapter, the 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.