Texas 2009 - 81st Regular

Texas Senate Bill SB576 Compare Versions

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Old	New	Differences
1	1	S.B. No. 576
2	2
3	3
4	4	AN ACT
5	5	relating to the implementation of a project plan or financing plan
6	6	for a reinvestment zone under the Tax Increment Financing Act and
7	7	the granting of exemptions from ad valorem taxes imposed on real
8	8	property in a reinvestment zone under that Act.
9	9	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
10	10	SECTION 1. Subsection (b), Section 311.010, Tax Code, is
11	11	amended to read as follows:
12	12	(b) The board of directors of a reinvestment zone and the
13	13	governing body of the municipality or county that creates a
14	14	reinvestment zone may each enter into agreements as the board or the
15	15	governing body considers necessary or convenient to implement the
16	16	project plan and reinvestment zone financing plan and achieve their
17	17	purposes. An agreement may provide for the regulation or
18	18	restriction of the use of land by imposing conditions,
19	19	restrictions, or covenants that run with the land. An agreement may
20	20	during the term of the agreement dedicate, pledge, or otherwise
21	21	provide for the use of revenue in the tax increment fund to pay any
22	22	project costs that benefit the reinvestment zone, including project
23	23	costs relating to the cost of buildings, schools, or other
24	24	educational facilities owned by or on behalf of a school district,
25	25	community college district, or other political subdivision of this
26	26	state, railroad or transit facilities, affordable housing, the
27	27	remediation of conditions that contaminate public or private land
28	28	or buildings, the preservation of the facade of a private or public
29	29	building, [or] the demolition of public or private buildings, or
30	30	the construction of a road, sidewalk, or other public
31	31	infrastructure in or out of the zone, including the cost of
32	32	acquiring the real property necessary for the construction of the
33	33	road, sidewalk, or other public infrastructure. An agreement may
34	34	dedicate revenue from the tax increment fund to pay the costs of
35	35	providing affordable housing or areas of public assembly in or out
36	36	of the zone. [An agreement may dedicate revenue from the tax
37	37	increment fund to pay a neighborhood enterprise association for
38	38	providing services or carrying out projects authorized under
39	39	Subchapters E and G, Chapter 2303, Government Code, in the zone.
40	40	The term of an agreement with a neighborhood enterprise association
41	41	may not exceed 10 years.]
42	42	SECTION 2. Subsection (g), Section 311.013, Tax Code, is
43	43	amended to read as follows:
44	44	(g) Subject to the provisions of Section 311.0125, in lieu
45	45	of permitting a portion of its tax increment to be paid into the tax
46	46	increment fund, and notwithstanding the provisions of Section
47	47	312.203, a taxing unit, including [other than] a municipality
48	48	[city], may elect to offer the owners of taxable real property in a
49	49	reinvestment zone created under this chapter an exemption from
50	50	taxation of all or part of the value of the property. To be
51	51	effective, an [Any] agreement to exempt real property [concerning
52	52	an exemption] from ad valorem taxes under this subsection must be
53	53	approved by:
54	54	(1) the board of directors of the reinvestment zone;
55	55	and
56	56	(2) the governing body of each taxing unit that
57	57	imposes taxes on real property in the reinvestment zone and
58	58	deposits or agrees to deposit any of its tax increment into the tax
59	59	increment fund for the zone [shall be executed in the manner and
60	60	subject to the limitations of Chapter 312; provided, however, the
61	61	property covered by the agreement need not be in a zone created
62	62	pursuant to Chapter 312. A taxing unit may not offer a tax
63	63	abatement agreement to property owners in the zone after it has
64	64	entered into an agreement that its tax increments would be paid into
65	65	the tax increment fund pursuant to Subsection (f)].
66	66	SECTION 3. This Act takes effect immediately if it receives
67	67	a vote of two-thirds of all the members elected to each house, as
68	68	provided by Section 39, Article III, Texas Constitution. If this
69	69	Act does not receive the vote necessary for immediate effect, this
70	70	Act takes effect September 1, 2009.
71	71	______________________________ ______________________________
72	72	President of the Senate Speaker of the House
73	73	I hereby certify that S.B. No. 576 passed the Senate on
74	74	March 23, 2009, by the following vote: Yeas 31, Nays 0.
75	75	______________________________
76	76	Secretary of the Senate
77	77	I hereby certify that S.B. No. 576 passed the House on
78	78	May 26, 2009, by the following vote: Yeas 140, Nays 2, two present
79	79	not voting.
80	80	______________________________
81	81	Chief Clerk of the House
82	82	Approved:
83	83	______________________________
84	84	Date
85	85	______________________________
86	86	Governor