81R10897 JD-D
By: Miklos H.B. No. 1770
A BILL TO BE ENTITLED
AN ACT
relating to the designation of an area as a reinvestment zone under
the Tax Increment Financing Act.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 311.003(a), Tax Code, is amended to read
as follows:
(a) The governing body of a county by order may designate a
contiguous geographic area in the county and the governing body of a
municipality by ordinance [or the governing body of a county by
order] may designate a contiguous or noncontiguous geographic area
that is in the corporate limits of the municipality, in the
extraterritorial jurisdiction of the municipality, or in both [in
the jurisdiction of the municipality or county] to be a
reinvestment zone to promote development or redevelopment of the
area if the governing body determines that development or
redevelopment would not occur solely through private investment in
the reasonably foreseeable future. The designation of an area that
is wholly or partly located in the extraterritorial jurisdiction of
a municipality is not affected by a subsequent annexation of real
property in the reinvestment zone by the municipality.
SECTION 2. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2009.