| 1 | 1 | | 81R7245 JD-F |
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| 2 | 2 | | By: Heflin H.B. No. 1127 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the authority of the commissioners court of a county to |
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| 8 | 8 | | enter into an ad valorem tax abatement agreement. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Section 312.402(a), Tax Code, is amended to read |
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| 11 | 11 | | as follows: |
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| 12 | 12 | | (a) The commissioners court may execute a tax abatement |
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| 13 | 13 | | agreement with the owner or lessee of taxable real property or the |
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| 14 | 14 | | owner of taxable tangible personal property, or both, located in a |
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| 15 | 15 | | reinvestment zone designated under this subchapter. The court may |
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| 16 | 16 | | execute a tax abatement agreement with the owner of a leasehold |
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| 17 | 17 | | interest in tax-exempt real property or leasehold interests or |
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| 18 | 18 | | improvements on tax-exempt real property that is located in a |
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| 19 | 19 | | reinvestment zone designated under this subchapter to exempt a |
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| 20 | 20 | | portion of the value of tangible personal property or leasehold |
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| 21 | 21 | | interests or improvements on tax-exempt real property located on |
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| 22 | 22 | | the real property. The execution, duration, and other terms of an |
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| 23 | 23 | | agreement made under this section are governed by the provisions of |
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| 24 | 24 | | Sections 312.204, 312.205, and 312.211 applicable to a |
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| 25 | 25 | | municipality. Section 312.2041 applies to an agreement made by a |
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| 26 | 26 | | county under this section in the same manner as it applies to an |
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| 27 | 27 | | agreement made by a municipality under Section 312.204 or 312.211. |
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| 28 | 28 | | SECTION 2. This Act takes effect immediately if it receives |
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| 29 | 29 | | a vote of two-thirds of all the members elected to each house, as |
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| 30 | 30 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 31 | 31 | | Act does not receive the vote necessary for immediate effect, this |
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| 32 | 32 | | Act takes effect September 1, 2009. |
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