Texas 2009 - 81st Regular

Texas House Bill HB3222 Compare Versions

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1	1	By: Hancock (Senate Sponsor - West) H.B. No. 3222
2	2	(In the Senate - Received from the House May 18, 2009;
3	3	May 19, 2009, read first time and referred to Committee on Economic
4	4	Development; May 22, 2009, reported favorably by the following
5	5	vote: Yeas 5, Nays 0; May 22, 2009, sent to printer.)
6	6
7	7
8	8	A BILL TO BE ENTITLED
9	9	AN ACT
10	10	relating to the authority of two or more municipalities to
11	11	designate a joint tax increment financing reinvestment zone.
12	12	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
13	13	SECTION 1. Chapter 311, Tax Code, is amended by adding
14	14	Section 311.0035 to read as follows:
15	15	Sec. 311.0035. PROCEDURE FOR DESIGNATING JOINT
16	16	REINVESTMENT ZONE. (a) The governing bodies of two or more
17	17	municipalities by ordinance adopted by each municipality may
18	18	designate a contiguous area in the jurisdiction of each of the
19	19	municipalities to be a joint reinvestment zone. Except as
20	20	otherwise provided by this section, each of the municipalities must
21	21	follow the procedures provided by Section 311.003 to designate an
22	22	area as a joint reinvestment zone. The ordinances adopted by all of
23	23	the municipalities designating an area as a joint reinvestment zone
24	24	must contain the same terms and must:
25	25	(1) describe the boundaries of the zone with
26	26	sufficient definiteness to identify with ordinary and reasonable
27	27	certainty the territory included in the zone;
28	28	(2) create a board of directors for the zone and
29	29	specify:
30	30	(A) the number of directors;
31	31	(B) the qualifications of directors;
32	32	(C) the manner in which directors are appointed;
33	33	(D) the terms of directors;
34	34	(E) the manner in which vacancies on the board
35	35	are filled; and
36	36	(F) the manner by which officers of the board are
37	37	selected;
38	38	(3) provide that the zone takes effect immediately on
39	39	adoption of the ordinance by the last of the municipalities in the
40	40	jurisdiction of which the area contained in the zone is located;
41	41	(4) provide a termination date for the zone;
42	42	(5) assign a name to the zone for identification
43	43	purposes, which may include the name of one or more of the
44	44	designating municipalities and may contain a number;
45	45	(6) establish a tax increment fund for the zone; and
46	46	(7) contain findings that:
47	47	(A) improvements in the zone will significantly
48	48	enhance the value of all taxable real property in the zone and will
49	49	be of general benefit to the municipalities; and
50	50	(B) the area meets the requirements of Sections
51	51	311.005(a)(1) and (2) and (a-1).
52	52	(b) For purposes of complying with Subsection (a)(7)(A),
53	53	the ordinances are not required to identify the specific parcels of
54	54	real property to be enhanced in value.
55	55	(c) The restrictions applicable to other reinvestment zones
56	56	under Section 311.006 apply to a joint reinvestment zone designated
57	57	under this section.
58	58	(d) The boundaries of a joint reinvestment zone may be
59	59	enlarged or reduced by ordinance of the governing bodies of the
60	60	municipalities that designated the zone, subject to the
61	61	restrictions contained in this section.
62	62	(e) The municipalities designating a joint reinvestment
63	63	zone may exercise any power necessary and convenient to carry out
64	64	this section and the other provisions of this chapter, including
65	65	the powers listed in Section 311.008.
66	66	(f) Except as otherwise provided by this section, the board
67	67	of directors of a joint reinvestment zone has the same powers and
68	68	duties and is subject to the same limitations as the board of
69	69	directors of a reinvestment zone designated by a single
70	70	municipality. Sections 311.011, 311.012, 311.0123, 311.013,
71	71	311.014, 311.015, 311.016, 311.0163, and 311.018 apply to the
72	72	municipalities designating a joint reinvestment zone, except that a
73	73	reference in those sections to a municipality means all of the
74	74	municipalities designating a joint reinvestment zone and an action
75	75	required of a municipality under those sections is considered to be
76	76	required of all of the municipalities designating a joint
77	77	reinvestment zone.
78	78	(g) Expenditures from tax increment financing funds or
79	79	bonds secured by tax increment financing may be made without regard
80	80	to the location from which the funds were derived or the location
81	81	within the joint reinvestment zone at which the funds are spent, but
82	82	only if those expenditures are authorized as required by this
83	83	chapter.
84	84	SECTION 2. This Act takes effect immediately if it receives
85	85	a vote of two-thirds of all the members elected to each house, as
86	86	provided by Section 39, Article III, Texas Constitution. If this
87	87	Act does not receive the vote necessary for immediate effect, this
88	88	Act takes effect September 1, 2009.
89	89	* * * * *