Texas 2009 - 81st Regular

Texas House Bill HB1770

Filed

Out of House Committee

4/16/09

Voted on by House

4/28/09

Out of Senate Committee

5/21/09

Voted on by Senate

5/25/09

Governor Action

6/19/09

Bill Becomes Law

Enrolled

5/31/09

Passed

6/19/09

Caption

Relating to the Tax Increment Financing Act.

Impact

The implications of HB 1770 are significant for public finance and urban development policies within the state. By adjusting the framework for how reinvestment zones are created and managed, the bill enhances the ability of municipalities to promote economic growth. It also shifts some responsibilities back to local governing bodies regarding the management of property tax increments generated within these zones. This could foster more tailored development strategies that align with community needs and goals.

Summary

House Bill 1770 advances the Tax Increment Financing Act in Texas, aiming to refine the criteria around the designation and management of reinvestment zones. This bill empowers county and municipal bodies to establish these zones with specific stipulations, such as ensuring that the area designated would not develop purely through private investment. It includes amendments that delineate the terms and conditions required for the creation and termination of reinvestment zones. Such changes are expected to impact the growth and development strategies employed by local governments.

Contention

Notable discussions surrounding HB 1770 reflected on the balance between allowing local control and preventing potential misuse of the reinvestment zone designations. Some critics raised concerns that looser regulations might lead to the establishment of zones in less viable areas, which could waste taxpayer funds and undermine the intended economic benefits. Proponents argued that this flexibility would stimulate investment in underdeveloped areas and ensure more equitable economic distribution across Texas.

Companion Bills

No companion bills found.

Previously Filed As

TX SB1096

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

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 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 HB774

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

TX SB871

Relating to the exemption of inventory from ad valorem taxation.

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 SB42

Relating to the calculation of certain ad valorem tax rates of a taxing unit for a year in which a property owner provides notice that the owner intends to appeal an order of an appraisal review board determining a protest by the owner regarding the appraisal of the owner's property.

TX HB1566

Relating to the ad valorem taxation of residential real 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.

Similar Bills

TX SB1947

Relating to the authority of two or more municipalities to designate a joint tax increment financing reinvestment zone.

TX SB313

Relating to the term of a reinvestment zone and to the assessment and payment of tax increments under the Tax Increment Financing Act.

TX HB4613

Relating to the creation, operations and financing of tax increment reinvestment zones.

TX HB3111

Relating to authorizing Bexar County to issue bonds or notes to finance the acquisition of real property and the construction of a building or facility on the property for use by an institution of higher education and to pledge for repayment of those bonds or notes increases in revenues from ad valorem taxes imposed by the county and other political subdivisions on property located in a designated area of the county.