LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION April 6, 2009 TO: Honorable Rene Oliveira, Chair, House Committee on Ways & Means FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB1770 by Miklos (Relating to the designation of an area as a reinvestment zone under the Tax Increment Financing Act.), As Introduced No fiscal implication to the State is anticipated. The bill would authorize a municipality by ordinance to designate a noncontiguous geographic area that is in the corporate limits of the municipality, in the extraterritorial jurisdiction (ETJ) of the municipality, or in both to be a reinvestment zone. An area that is wholly or partly located in the municipality's ETJ would not be affected by a subsequent annexation by the municipality of real property in the reinvestment zone. Under current statute, only a contiguous geographic area may be designated as part of the reinvestment zone. Local Government Impact It is assumed that a municipality would add applicable noncontiguous areas to a reinvestment zone only if the municipality considered the designation to have a positive benefit. The fiscal impact would vary by municipality. Source Agencies: LBB Staff: JOB, MN, DB
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
April 6, 2009
TO: Honorable Rene Oliveira, Chair, House Committee on Ways & Means FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB1770 by Miklos (Relating to the designation of an area as a reinvestment zone under the Tax Increment Financing Act.), As Introduced
TO: Honorable Rene Oliveira, Chair, House Committee on Ways & Means
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: HB1770 by Miklos (Relating to the designation of an area as a reinvestment zone under the Tax Increment Financing Act.), As Introduced
Honorable Rene Oliveira, Chair, House Committee on Ways & Means
Honorable Rene Oliveira, Chair, House Committee on Ways & Means
John S. O'Brien, Director, Legislative Budget Board
John S. O'Brien, Director, Legislative Budget Board
HB1770 by Miklos (Relating to the designation of an area as a reinvestment zone under the Tax Increment Financing Act.), As Introduced
HB1770 by Miklos (Relating to the designation of an area as a reinvestment zone under the Tax Increment Financing Act.), As Introduced
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would authorize a municipality by ordinance to designate a noncontiguous geographic area that is in the corporate limits of the municipality, in the extraterritorial jurisdiction (ETJ) of the municipality, or in both to be a reinvestment zone. An area that is wholly or partly located in the municipality's ETJ would not be affected by a subsequent annexation by the municipality of real property in the reinvestment zone. Under current statute, only a contiguous geographic area may be designated as part of the reinvestment zone.
The bill would authorize a municipality by ordinance to designate a noncontiguous geographic area that is in the corporate limits of the municipality, in the extraterritorial jurisdiction (ETJ) of the municipality, or in both to be a reinvestment zone. An area that is wholly or partly located in the municipality's ETJ would not be affected by a subsequent annexation by the municipality of real property in the reinvestment zone.
Under current statute, only a contiguous geographic area may be designated as part of the reinvestment zone.
Local Government Impact
It is assumed that a municipality would add applicable noncontiguous areas to a reinvestment zone only if the municipality considered the designation to have a positive benefit. The fiscal impact would vary by municipality.
Source Agencies:
LBB Staff: JOB, MN, DB
JOB, MN, DB