| 1 | 1 | | By: Pickett (Senate Sponsor - Wentworth) H.J.R. No. 63 |
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| 2 | 2 | | (In the Senate - Received from the House May 6, 2011; |
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| 3 | 3 | | May 9, 2011, read first time and referred to Committee on |
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| 4 | 4 | | Intergovernmental Relations; May 19, 2011, reported favorably by |
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| 5 | 5 | | the following vote: Yeas 5, Nays 0; May 19, 2011, sent to printer.) |
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| 6 | 6 | | |
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| 7 | 7 | | |
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| 8 | 8 | | HOUSE JOINT RESOLUTION |
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| 9 | 9 | | proposing a constitutional amendment authorizing the legislature |
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| 10 | 10 | | to permit a county to issue bonds or notes to finance the |
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| 11 | 11 | | development or redevelopment of an unproductive, underdeveloped, |
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| 12 | 12 | | or blighted area and to pledge for repayment of the bonds or notes |
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| 13 | 13 | | increases in ad valorem taxes imposed by the county on property in |
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| 14 | 14 | | the area. |
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| 15 | 15 | | BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 16 | 16 | | SECTION 1. Section 1-g(b), Article VIII, Texas |
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| 17 | 17 | | Constitution, is amended to read as follows: |
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| 18 | 18 | | (b) The legislature by general law may authorize an |
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| 19 | 19 | | incorporated city or town or a county to issue bonds or notes to |
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| 20 | 20 | | finance the development or redevelopment of an unproductive, |
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| 21 | 21 | | underdeveloped, or blighted area within the city, [or] town, or |
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| 22 | 22 | | county and to pledge for repayment of those bonds or notes increases |
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| 23 | 23 | | in ad valorem tax revenues imposed on property in the area by the |
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| 24 | 24 | | city, [or] town, or county and other political subdivisions. |
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| 25 | 25 | | SECTION 2. This proposed constitutional amendment shall be |
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| 26 | 26 | | submitted to the voters at an election to be held November 8, 2011. |
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| 27 | 27 | | The ballot shall be printed to permit voting for or against the |
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| 28 | 28 | | proposition: "The constitutional amendment authorizing the |
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| 29 | 29 | | legislature to permit a county to issue bonds or notes to finance |
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| 30 | 30 | | the development or redevelopment of an unproductive, |
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| 31 | 31 | | underdeveloped, or blighted area and to pledge for repayment of the |
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| 32 | 32 | | bonds or notes increases in ad valorem taxes imposed by the county |
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| 33 | 33 | | on property in the area. The amendment does not provide authority |
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| 34 | 34 | | for increasing ad valorem tax rates." |
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| 35 | 35 | | * * * * * |
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