H.B. No. 3465
AN ACT
relating to the period for which a school district's participation
in certain tax increment financing reinvestment zones may be taken
into account in determining the total taxable value of property in
the school district.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 403.302, Government Code, is amended by
adding Subsection (e-1) to read as follows:
(e-1) This subsection applies only to a reinvestment zone
created by a municipality that has a population of 70,000 or less
and is located in a county in which all or part of a military
installation is located. Notwithstanding Subsection (e), if on or
after January 1, 2017, the municipality adopts an ordinance
designating a termination date for the zone that is later than the
termination date designated in the ordinance creating the zone, the
number of years for which the total dollar amount may be deducted
under Subsection (d)(4) is limited to the duration of the zone as
determined under Section 311.017, Tax Code.
SECTION 2. This Act takes effect September 1, 2011.
______________________________ ______________________________
President of the Senate Speaker of the House
I certify that H.B. No. 3465 was passed by the House on April
26, 2011, by the following vote: Yeas 147, Nays 1, 2 present, not
voting.
______________________________
Chief Clerk of the House
I certify that H.B. No. 3465 was passed by the Senate on May
19, 2011, by the following vote: Yeas 31, Nays 0
.
______________________________
Secretary of the Senate
APPROVED: _____________________
Date
_____________________
Governor