BILL ANALYSIS H.B. 2523 By: Nevrez Special Purpose Districts Committee Report (Unamended) BACKGROUND AND PURPOSE Interested parties contend that the voter-approved dissolution of the Development Corporation of Presidio and the creation of the Presidio Municipal Development District, and the levy of a district sales and use tax, requires the validation and confirmation of the legislature. H.B. 2523 seeks to address this issue. RULEMAKING AUTHORITY It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution. ANALYSIS H.B. 2523 establishes that the legislature validates and confirms the dissolution of the Development Corporation of Presidio, a Type B economic development corporation, and creation of the Presidio Municipal Development District as of the date of the election held on November 6, 2012, at which the voters of the City of Presidio and its extraterritorial jurisdiction approved both the dissolution of the economic development corporation and creation of the district and replaced the dedicated sales and use tax for benefit of the economic development corporation with a dedicated sales and use tax for the benefit of the district. The bill establishes that the legislature validates and confirms the levy of a sales and use tax of one-half of one percent within the boundaries of the Presidio Municipal Development District for the purpose of financing development projects beneficial to the district that occurred before the bill's effective date. EFFECTIVE DATE On passage, or, if the bill does not receive the necessary vote, September 1, 2013.
BILL ANALYSIS
# BILL ANALYSIS
H.B. 2523
By: Nevrez
Special Purpose Districts
Committee Report (Unamended)
H.B. 2523
By: Nevrez
Special Purpose Districts
Committee Report (Unamended)
BACKGROUND AND PURPOSE Interested parties contend that the voter-approved dissolution of the Development Corporation of Presidio and the creation of the Presidio Municipal Development District, and the levy of a district sales and use tax, requires the validation and confirmation of the legislature. H.B. 2523 seeks to address this issue.
RULEMAKING AUTHORITY It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.
ANALYSIS H.B. 2523 establishes that the legislature validates and confirms the dissolution of the Development Corporation of Presidio, a Type B economic development corporation, and creation of the Presidio Municipal Development District as of the date of the election held on November 6, 2012, at which the voters of the City of Presidio and its extraterritorial jurisdiction approved both the dissolution of the economic development corporation and creation of the district and replaced the dedicated sales and use tax for benefit of the economic development corporation with a dedicated sales and use tax for the benefit of the district. The bill establishes that the legislature validates and confirms the levy of a sales and use tax of one-half of one percent within the boundaries of the Presidio Municipal Development District for the purpose of financing development projects beneficial to the district that occurred before the bill's effective date.
EFFECTIVE DATE On passage, or, if the bill does not receive the necessary vote, September 1, 2013.
BACKGROUND AND PURPOSE
Interested parties contend that the voter-approved dissolution of the Development Corporation of Presidio and the creation of the Presidio Municipal Development District, and the levy of a district sales and use tax, requires the validation and confirmation of the legislature. H.B. 2523 seeks to address this issue.
RULEMAKING AUTHORITY
It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.
ANALYSIS
H.B. 2523 establishes that the legislature validates and confirms the dissolution of the Development Corporation of Presidio, a Type B economic development corporation, and creation of the Presidio Municipal Development District as of the date of the election held on November 6, 2012, at which the voters of the City of Presidio and its extraterritorial jurisdiction approved both the dissolution of the economic development corporation and creation of the district and replaced the dedicated sales and use tax for benefit of the economic development corporation with a dedicated sales and use tax for the benefit of the district. The bill establishes that the legislature validates and confirms the levy of a sales and use tax of one-half of one percent within the boundaries of the Presidio Municipal Development District for the purpose of financing development projects beneficial to the district that occurred before the bill's effective date.
EFFECTIVE DATE
On passage, or, if the bill does not receive the necessary vote, September 1, 2013.