Laws, Regulations & Annotations

PTLG Table of Contents > Property Tax Annotations > W > 880.0000 WELFARE EXEMPTION > 880.0148

Property Taxes Law Guide – Revision 2017

Property Tax Annotations

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W

880.0000 WELFARE EXEMPTION

(a) IN GENERAL

Annotation 880.0148

880.0148 Limited Liability Company. A limited liability company (LLC) is not disqualified from receiving an organizational clearance certificate merely because its sole activity is to hold title to real property that is used by its single, qualifying-organization member for exempt purposes provided that the LLC is organized to limit the liability of its member nonprofit and that its member actually performs exempt activities on the property in conformity with the LLC's formative document in addition to meeting all of the requirements of Property Tax Rule 136 and Revenue and Taxation Code sections 214 et seq. and 254.6. C 4/20/2009.