LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION May 5, 2011 TO: Honorable Harvey Hilderbran, Chair, House Committee on Ways & Means FROM: John S O'Brien, Director, Legislative Budget Board IN RE:HB3275 by Coleman (relating to the operation and governance of tax increment financing reinvestment zones.), Committee Report 1st House, Substituted No fiscal implication to the State is anticipated. The bill would amend Chapter 311 of the Tax Code to provide that for a taxing unit (other than a municipality or county that created a reinvestment zone) that levies taxes on real property in a reinvestment zone to appoint a member on the reinvestment zone's board of directors, the taxing unit must approve the payment of all or part of the tax increment produced by the unit into the tax increment fund for the zone. The bill would provide that certain eligibility requirements for board members do not apply to an individual appointed by certain conservation and reclamation districts with a jurisdiction which covers four counties. The bill provides for a county that designates a zone to determine the portion of the tax increment that is required to be paid into the tax increment fund and that a municipality or county can make such a designation in an ordinance or an order, rather than only in an ordinance. The bill would modify the due date of the reinvestment zone status report that a municipality or county must send to each taxing unit in the zone, from on or before the 90th day to on or before the 150th day following the end of the fiscal year. The bill would modify the board of directors of reinvestment zones, the designation process of tax increments into a tax increment fund, and the due date of reports regarding zones, but would not change taxable values, tax rates or any other variable directly affecting property tax revenues and, consequently, would not create a fiscal impact to the state or units of local government. The bill would take effect September 1, 2011. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:304 Comptroller of Public Accounts, 701 Central Education Agency LBB Staff: JOB, KK, SD, SJS, JGM, TP, JSp
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION
May 5, 2011
TO: Honorable Harvey Hilderbran, Chair, House Committee on Ways & Means FROM: John S O'Brien, Director, Legislative Budget Board IN RE:HB3275 by Coleman (relating to the operation and governance of tax increment financing reinvestment zones.), Committee Report 1st House, Substituted
TO: Honorable Harvey Hilderbran, Chair, House Committee on Ways & Means
FROM: John S O'Brien, Director, Legislative Budget Board
IN RE: HB3275 by Coleman (relating to the operation and governance of tax increment financing reinvestment zones.), Committee Report 1st House, Substituted
Honorable Harvey Hilderbran, Chair, House Committee on Ways & Means
Honorable Harvey Hilderbran, Chair, House Committee on Ways & Means
John S O'Brien, Director, Legislative Budget Board
John S O'Brien, Director, Legislative Budget Board
HB3275 by Coleman (relating to the operation and governance of tax increment financing reinvestment zones.), Committee Report 1st House, Substituted
HB3275 by Coleman (relating to the operation and governance of tax increment financing reinvestment zones.), Committee Report 1st House, Substituted
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would amend Chapter 311 of the Tax Code to provide that for a taxing unit (other than a municipality or county that created a reinvestment zone) that levies taxes on real property in a reinvestment zone to appoint a member on the reinvestment zone's board of directors, the taxing unit must approve the payment of all or part of the tax increment produced by the unit into the tax increment fund for the zone. The bill would provide that certain eligibility requirements for board members do not apply to an individual appointed by certain conservation and reclamation districts with a jurisdiction which covers four counties. The bill provides for a county that designates a zone to determine the portion of the tax increment that is required to be paid into the tax increment fund and that a municipality or county can make such a designation in an ordinance or an order, rather than only in an ordinance. The bill would modify the due date of the reinvestment zone status report that a municipality or county must send to each taxing unit in the zone, from on or before the 90th day to on or before the 150th day following the end of the fiscal year. The bill would modify the board of directors of reinvestment zones, the designation process of tax increments into a tax increment fund, and the due date of reports regarding zones, but would not change taxable values, tax rates or any other variable directly affecting property tax revenues and, consequently, would not create a fiscal impact to the state or units of local government. The bill would take effect September 1, 2011.
The bill would amend Chapter 311 of the Tax Code to provide that for a taxing unit (other than a municipality or county that created a reinvestment zone) that levies taxes on real property in a reinvestment zone to appoint a member on the reinvestment zone's board of directors, the taxing unit must approve the payment of all or part of the tax increment produced by the unit into the tax increment fund for the zone. The bill would provide that certain eligibility requirements for board members do not apply to an individual appointed by certain conservation and reclamation districts with a jurisdiction which covers four counties. The bill provides for a county that designates a zone to determine the portion of the tax increment that is required to be paid into the tax increment fund and that a municipality or county can make such a designation in an ordinance or an order, rather than only in an ordinance. The bill would modify the due date of the reinvestment zone status report that a municipality or county must send to each taxing unit in the zone, from on or before the 90th day to on or before the 150th day following the end of the fiscal year. The bill would modify the board of directors of reinvestment zones, the designation process of tax increments into a tax increment fund, and the due date of reports regarding zones, but would not change taxable values, tax rates or any other variable directly affecting property tax revenues and, consequently, would not create a fiscal impact to the state or units of local government.
The bill would take effect September 1, 2011.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 304 Comptroller of Public Accounts, 701 Central Education Agency
304 Comptroller of Public Accounts, 701 Central Education Agency
LBB Staff: JOB, KK, SD, SJS, JGM, TP, JSp
JOB, KK, SD, SJS, JGM, TP, JSp