TX
Texas House Bill HB146

Texas 2009 - 81st Regular

Texas House Bill HB146

Voted on by House
 
Out of Senate Committee
 
Voted on by Senate
 
Governor Action
 
Bill Becomes Law
 

Caption

Relating to the implementation of a project plan or financing plan for a reinvestment zone under the Tax Increment Financing Act and the granting of exemptions from ad valorem taxes imposed on real property in a reinvestment zone under that Act.

Impact

The bill will amend the Tax Code to allow greater authority in designating how revenues from tax increment funds can be utilized. Specifically, it aims to support a variety of projects ranging from infrastructure upgrades, affordable housing initiatives, and even remediation of contaminated sites. Additionally, the legislation provides mechanisms for local governments to offer property tax exemptions to incentivize development within these reinvestment zones, which are particularly valuable for areas in need of economic revitalization. This could potentially lead to increased investment and development in targeted localities, aligned with community needs and priorities.

Summary

House Bill 146, titled 'Relating to the implementation of a project plan or financing plan for a reinvestment zone under the Tax Increment Financing Act and the granting of exemptions from ad valorem taxes imposed on real property in a reinvestment zone under that Act,' aims to streamline the process for local governments to manage reinvestment zones. The bill empowers both the board of directors of a reinvestment zone and the governing bodies of municipalities or counties to enter into necessary agreements to implement project plans effectively. This flexibility is intended to enhance the efficiency and outcome of projects within these zones.

Contention

Notable points of contention surrounding HB 146 may include debates over the impact of property tax exemptions on local revenues, as well as concerns regarding accountability in how funds are allocated within reinvestment zones. While proponents argue that such measures could stimulate economic growth and community development, opponents may raise issues about the long-term sustainability of local government finances and the fairness of providing tax breaks to developers or certain property owners at the potential expense of broader public services. These discussions typically reflect a balance between fostering local economic development and maintaining the fiscal health of municipalities.

Companion Bills

TX SB576

Identical Relating to the implementation of a project plan or financing plan for a reinvestment zone under the Tax Increment Financing Act and the granting of exemptions from ad valorem taxes imposed on real property in a reinvestment zone under that Act.

Previously Filed As

TX HB4433

Relating to the authority of the board of directors of a tax increment financing reinvestment zone to use money in the tax increment fund established for the zone to compensate certain homeowners for the increase in taxes associated with the zone.

TX HB4473

Relating to the calculation of ad valorem tax rates by certain taxing units that participate in one or more reinvestment zones for tax increment financing.

TX HB774

Relating to the ad valorem tax appraisal of an older residence homestead located in or near a tax increment financing reinvestment zone.

TX SB1096

Relating to the treatment of certain residence homesteads for purposes of the Tax Increment Financing Act.

TX HB2993

Relating to the eligibility of certain property located in a reinvestment zone for certain ad valorem tax incentives.

TX HB2987

Relating to the exemption of tangible personal property from ad valorem taxation; making conforming changes.

TX SB1789

Relating to the exemption of tangible personal property from ad valorem taxation; making conforming changes.

TX HB4429

Relating to the duty of a school district to enter into an ad valorem tax abatement agreement under the Property Redevelopment and Tax Abatement Act for certain property.

TX SB2

Relating to providing property tax relief through the public school finance system, exemptions, limitations on appraisals and taxes, and property tax administration; authorizing the imposition of a fee.

TX HB2

Relating to providing property tax relief through the public school finance system, exemptions, limitations on appraisals and taxes, and property tax administration; authorizing the imposition of a fee.

Similar Bills

LA HB335

Relative to the New Orleans City Park Taxing District, provides with respect to procedures relative to use of state sales tax increments for tax increment financing (EN DECREASE GF RV See Note)

MI SB0243

Economic development: tax increment financing; tax capture districts; exempt public libraries. Amends secs. 203, 303, 404, 618, 715 & 814 of 2018 PA 57 (MCL 125.4203 et seq.).

CT SB00677

An Act Establishing Tax Increment Financing Districts.

UT HB0362

Taxing Entity Amendments

OR SB110

Relating to revenue.

MI HB5817

Economic development: tax increment financing; tax increment financing act; amend to exempt museum authorities. Amends secs. 201, 301, 402, 523, 603, 703 & 803 of 2018 PA 57 (MCL 125.4201 et seq.).

MI SB0784

Economic development: tax increment financing; tax capture districts; exempt fire authorities. Amends secs. 201, 301, 402, 523, 603, 703 & 803 of 2018 PA 57 (MCL 125.4201 et seq.).

MI SB0199

Economic development: tax increment financing; definition of other protected obligation; modify and expand. Amends sec. 301 of 2018 PA 57 (MCL 125.4301).