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:SB1458 by Seliger (Relating to the authority of the commissioners court of a county to enter into an ad valorem tax abatement agreement.), As Introduced No fiscal implication to the State is anticipated. The bill would amend the Tax Code regarding tax abatement agreements a county commissioners court may execute within a reinvestment zone. Local Government Impact It is assumed that a commissioners court would execute a tax abatement agreement as provided in the bill only if the county commissioners court determines that other financial benefits would offset losses in tax revenue. The fiscal implications would depend on the terms of the tax abatement agreement and the number and value of properties affected. 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:SB1458 by Seliger (Relating to the authority of the commissioners court of a county to enter into an ad valorem tax abatement agreement.), As Introduced
TO: Honorable Chris Harris, Chair, Senate Committee on Economic Development
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: SB1458 by Seliger (Relating to the authority of the commissioners court of a county to enter into an ad valorem tax abatement agreement.), 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
SB1458 by Seliger (Relating to the authority of the commissioners court of a county to enter into an ad valorem tax abatement agreement.), As Introduced
SB1458 by Seliger (Relating to the authority of the commissioners court of a county to enter into an ad valorem tax abatement agreement.), As Introduced
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would amend the Tax Code regarding tax abatement agreements a county commissioners court may execute within a reinvestment zone.
Local Government Impact
It is assumed that a commissioners court would execute a tax abatement agreement as provided in the bill only if the county commissioners court determines that other financial benefits would offset losses in tax revenue. The fiscal implications would depend on the terms of the tax abatement agreement and the number and value of properties affected.
Source Agencies:
LBB Staff: JOB, JRO, DB
JOB, JRO, DB