LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION May 15, 2009 TO: Honorable Chris Harris, Chair, Senate Committee on Economic Development 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 Engrossed 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, JRO, MN, DB
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
May 15, 2009
TO: Honorable Chris Harris, Chair, Senate Committee on Economic Development 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 Engrossed
TO: Honorable Chris Harris, Chair, Senate Committee on Economic Development
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 Engrossed
Honorable Chris Harris, Chair, Senate Committee on Economic Development
Honorable Chris Harris, Chair, Senate Committee on Economic Development
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 Engrossed
HB1770 by Miklos (Relating to the designation of an area as a reinvestment zone under the Tax Increment Financing Act.), As Engrossed
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, JRO, MN, DB
JOB, JRO, MN, DB