LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION April 5, 2009 TO: Honorable Chris Harris, Chair, Senate Committee on Economic Development FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:SB1311 by Duncan (Relating to the authority of the commissioners court of a county to enter into an ad valorem tax abatement agreement with certain property owners.), As Introduced No fiscal implication to the State is anticipated. The bill would amend Chapter 312, Tax Code, to authorize a county commissioners court to execute a tax abatement agreement with a lessee of taxable real property located in a reinvestment zone designated under Subchapter C of Chapter 312 to exempt from taxation all or a portion of the value of fixtures, improvements, other real property owned by the lessee and located on the property that is the subject of the lease, and tanglible personal property owned by the lessee and located on the leased real property. Local Government Impact The fiscal impact to a county would depend on the terms of the tax abatement agreement. It is assumed that a county commissioners court would execute a tax abatement agreement only if the fiscal impact could be absorbed within existing resources. Source Agencies: LBB Staff: JOB, JRO, DB
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
April 5, 2009
TO: Honorable Chris Harris, Chair, Senate Committee on Economic Development FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:SB1311 by Duncan (Relating to the authority of the commissioners court of a county to enter into an ad valorem tax abatement agreement with certain property owners.), As Introduced
TO: Honorable Chris Harris, Chair, Senate Committee on Economic Development
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: SB1311 by Duncan (Relating to the authority of the commissioners court of a county to enter into an ad valorem tax abatement agreement with certain property owners.), As Introduced
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
SB1311 by Duncan (Relating to the authority of the commissioners court of a county to enter into an ad valorem tax abatement agreement with certain property owners.), As Introduced
SB1311 by Duncan (Relating to the authority of the commissioners court of a county to enter into an ad valorem tax abatement agreement with certain property owners.), As Introduced
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would amend Chapter 312, Tax Code, to authorize a county commissioners court to execute a tax abatement agreement with a lessee of taxable real property located in a reinvestment zone designated under Subchapter C of Chapter 312 to exempt from taxation all or a portion of the value of fixtures, improvements, other real property owned by the lessee and located on the property that is the subject of the lease, and tanglible personal property owned by the lessee and located on the leased real property.
Local Government Impact
The fiscal impact to a county would depend on the terms of the tax abatement agreement. It is assumed that a county commissioners court would execute a tax abatement agreement only if the fiscal impact could be absorbed within existing resources.
Source Agencies:
LBB Staff: JOB, JRO, DB
JOB, JRO, DB