The portion of real property that is leased to an independent school district, community college district, or open-enrollment charter school authorized by Subchapter C, D, or E, Chapter 12, Education Code, is qualified and exempt from taxation pursuant to Sections 11.11 and 11.21 of this code if the portion of the real property that is leased to the public school is:

1. (1) used exclusively by the public school for the operation or administration of the school or the performance of other educational functions of the school; and
2. (2) reasonably necessary for a purpose described in Subdivision (1) as found by the school's governing body.

Added by Acts 2021, 87th Leg., R.S., Ch. 916 (H.B. 3610), Sec. 4, eff. September 1, 2021.