By: Nevarez H.B. No. 2523
A BILL TO BE ENTITLED
AN ACT
relating to the validation of the dissolution of the Development
Corporation of Presidio and creation of the Presidio Municipal
Development District.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. (a) The legislature validates and confirms:
(1) 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; and
(2) 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 effective date
of this Act.
SECTION 2. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2013.