Texas House Bill HB4463

Texas 2009 - 81st Regular

Caption

Relating to the creation of Austin Desired Development Zone District No. 5; providing authority to levy an assessment, impose taxes, and issue bonds; and granting a limited power of eminent domain.

Impact

The bill's implementation will allow the district to undertake significant local improvements using the funding generated from assessments and taxes. This funding can support necessary projects such as water and wastewater facilities, road construction, and public transit systems. Additionally, the district has been granted limited powers of eminent domain to acquire property for these public purposes, although restrictions exist to mitigate concerns over the abuse of such powers.

Summary

House Bill 4463 establishes the Austin Desired Development Zone District No. 5, granting it specific powers to implement assessments, impose taxes, and issue bonds to facilitate the development and revitalization of the area. The bill is aimed at addressing economic underperformance within the designated district by promoting commerce, housing, transportation, and various public services. It strives to further state economic objectives through enhancements in the district's infrastructure and service provision.

Contention

Points of contention surrounding HB 4463 may arise from its impact on local land use policies and the financial obligations placed on property owners within the district. The capacity to levy assessments and impose taxes has raised concerns among some stakeholders about potential financial burdens on local residents and businesses. Moreover, the ability to issue bonds without extensive oversight could provoke criticism, particularly if mismanaged, leading to fiscal instability.