Form 50-242 - Application For Charitable Organizations Improving Property For Low-Income Housing Property Tax Exemption - 2011 Page 2
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Application for Charitable Organizations Improving Property for Low-Income Housing Property Tax Exemption
Form 50-242
STEP 3: Answer the Following Questions About the Property Owner (Organization) and Attach Documentation
1. Is the organization organized as a nonprofit corporation as defined by the Texas Non-Profit Corporation Act
(Article 1396-1.01 et seq., Vernon’s Texas Civil Statutes)?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes
No
2. Is the organization engaged primarily in public charitable functions? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes
No
If yes, using an attachment, describe the organization’s activities in a narrative. The narrative description of activities should be
thorough, accurate and include date-specific references to the tax year for which the exemption is sought. You may also attach
representative copies of newsletters, brochures or similar documents for supporting details to this narrative.
3. Is the organization organized exclusively to perform religious, charitable, scientific, literary or educational purposes? . . . . . . . . . .
Yes
No
If yes, attach copies of organizational documents supporting your answer.
4. Does the organization own the property for the purpose of building or repairing housing on it
primarily with the use of volunteer labor, and to sell without profit to an individual or family
satisfying the organization’s low-income and other eligibility requirements? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes
No
5. Does the organization engage exclusively in the building, repair and sale of housing as described above, and related activities? . . .
Yes
No
6. Does the organization perform, or does its charter permit it to perform, any functions other than those checked in question 2? . . . .
Yes
No
If yes, attach a statement describing the other functions in detail.
7. Does the organization operate in such a manner that does not result in the accrual of distributable profits, the distribution
of profits, or the realization of any other form of private gain?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes
No
STEP 4: Attach Documentation Regarding the Property Owner’s (Organization’s) Bylaws or Charter and
Answer the Following Questions
1. Attach a copy of the charter, bylaws, or other documents adopted by the organization that govern its affairs.
2. Do these documents pledge the organization’s assets for use in performing the organization’s charitable functions?. . . . . . . . . . . . .
Yes
No
If yes, state the page and paragraph numbers. Page __________ Paragraph _________
3. Do these documents direct that on the discontinuance of the organization the organization’s assets are to be transferred to the
State of Texas or to an educational, religious, charitable or other similar organization that is qualified for exemption under
Sec. 501(c)(3), Internal Revenue Code, as amended? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes
No
If yes, state the page and paragraph numbers. Page __________ Paragraph _________
If no, do these documents direct that on discontinuance of the organization, the organization’s assets are to be transferred to
its members who have promised in their membership application to immediately transfer them to the State of Texas or to an
educational, religious, charitable or other similar organization that is qualified for exemption under Sec. 501(c)(3), Internal
Revenue Code, as amended?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes
No
If yes, state the page and paragraph numbers. Page __________ Paragraph _________
If yes, was this two-step transfer required for the organization to qualify for exemption under Sec. 501(c)(3), Internal
Revenue Code, as amended? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes
No
STEP 5: Complete and Attach Schedules Describing Property for Which Exemption is Sought
NOTE: Identify only property owned by the organization.
• Complete and attach a separate Schedule A (REAL PROPERTY) for EACH parcel of real property (improved and unimproved) to be exempt.
• Complete and attach a separate Schedule B (BUILDINGS) for EACH building to be exempt.
• Complete and attach Schedule C (PERSONAL PROPERTY) listing ALL personal property to be exempt.
STEP 6: Read, Sign, and Date
By signing this application, you designate the property described in the attached Schedules A, B and C as the property against which §11.181
(Charitable Organization Improving Property for Low-Income Housing) exemption may be claimed in this appraisal district, and certify that the informa-
tion provided in this application is true and correct to the best of your knowledge and belief.
________________________________________________
_______________________________
Printed Name
Date
________________________________________________
_______________________________
Authorized Signature
Title
If you make a false statement on this application, you could be found guilty of a Class A misdemeanor or a state jail felony under
Section 37.10, Penal Code.
For more information, visit our website:
Page 2 • 50-242 • 09-11/9
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