| 1 | 1 | | S.B. No. 1105 |
|---|
| 2 | 2 | | |
|---|
| 3 | 3 | | |
|---|
| 4 | 4 | | AN ACT |
|---|
| 5 | 5 | | relating to the authority of certain municipalities to extend the |
|---|
| 6 | 6 | | termination date for a reinvestment zone created under the Tax |
|---|
| 7 | 7 | | Increment Financing Act. |
|---|
| 8 | 8 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|---|
| 9 | 9 | | SECTION 1. Section 311.017, Tax Code, is amended by adding |
|---|
| 10 | 10 | | Subsection (a-1) to read as follows: |
|---|
| 11 | 11 | | (a-1) This subsection applies only to a reinvestment zone |
|---|
| 12 | 12 | | created by a municipality that has a population of 195,000 or more |
|---|
| 13 | 13 | | and is the county seat of a county that has a population of 245,000 |
|---|
| 14 | 14 | | or less. Notwithstanding Subsection (a)(1), a municipality by |
|---|
| 15 | 15 | | ordinance adopted subsequent to the ordinance adopted by the |
|---|
| 16 | 16 | | municipality creating a reinvestment zone may designate a |
|---|
| 17 | 17 | | termination date for the zone that is later than the termination |
|---|
| 18 | 18 | | date designated in the ordinance creating the zone but not later |
|---|
| 19 | 19 | | than the 20th anniversary of that date. If a municipality adopts an |
|---|
| 20 | 20 | | ordinance extending the termination date for a reinvestment zone as |
|---|
| 21 | 21 | | authorized by this subsection, the zone terminates on the earlier |
|---|
| 22 | 22 | | of: |
|---|
| 23 | 23 | | (1) the termination date designated in the ordinance; |
|---|
| 24 | 24 | | or |
|---|
| 25 | 25 | | (2) the date provided by Subsection (a)(2). |
|---|
| 26 | 26 | | SECTION 2. This Act takes effect immediately if it receives |
|---|
| 27 | 27 | | a vote of two-thirds of all the members elected to each house, as |
|---|
| 28 | 28 | | provided by Section 39, Article III, Texas Constitution. If this |
|---|
| 29 | 29 | | Act does not receive the vote necessary for immediate effect, this |
|---|
| 30 | 30 | | Act takes effect September 1, 2009. |
|---|
| 31 | 31 | | ______________________________ ______________________________ |
|---|
| 32 | 32 | | President of the Senate Speaker of the House |
|---|
| 33 | 33 | | I hereby certify that S.B. No. 1105 passed the Senate on |
|---|
| 34 | 34 | | April 16, 2009, by the following vote: Yeas 31, Nays 0. |
|---|
| 35 | 35 | | ______________________________ |
|---|
| 36 | 36 | | Secretary of the Senate |
|---|
| 37 | 37 | | I hereby certify that S.B. No. 1105 passed the House on |
|---|
| 38 | 38 | | May 12, 2009, by the following vote: Yeas 149, Nays 0, one |
|---|
| 39 | 39 | | present not voting. |
|---|
| 40 | 40 | | ______________________________ |
|---|
| 41 | 41 | | Chief Clerk of the House |
|---|
| 42 | 42 | | Approved: |
|---|
| 43 | 43 | | ______________________________ |
|---|
| 44 | 44 | | Date |
|---|
| 45 | 45 | | ______________________________ |
|---|
| 46 | 46 | | Governor |
|---|