BILL ANALYSIS Senate Research Center S.B. 1584 By: Rodrguez Economic Development 3/29/2013 As Filed
BILL ANALYSIS
Senate Research Center S.B. 1584
By: Rodrguez
Economic Development
3/29/2013
As Filed
Senate Research Center
S.B. 1584
By: Rodrguez
Economic Development
3/29/2013
As Filed
AUTHOR'S / SPONSOR'S STATEMENT OF INTENT On November 6, 2012, the voters of the City of Presidio, Texas, approved both the dissolution of the Development Corporation of Presidio, a Type B economic development corporation, and the creation of the Presidio Municipal Development District. This would replace the dedicated sales and use tax for the benefit of the economic development corporation with a dedicated sales and use tax for the benefit of the district for the purpose of financing development projects that are beneficial to the district. As proposed, S.B. 1584 amends current law relating to the validation of the dissolution of the Development Corporation of Presidio and the creation of the Presidio Municipal Development District. RULEMAKING AUTHORITY This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Provides that the legislature validates and confirms: (1) the dissolution of the Development Corporation of Presidio, a Type B economic development corporation, and the 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 the creation of the district and replaced the dedicated sales and use tax for the 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. Effective date: upon passage or September 1, 2013.
AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
On November 6, 2012, the voters of the City of Presidio, Texas, approved both the dissolution of the Development Corporation of Presidio, a Type B economic development corporation, and the creation of the Presidio Municipal Development District. This would replace the dedicated sales and use tax for the benefit of the economic development corporation with a dedicated sales and use tax for the benefit of the district for the purpose of financing development projects that are beneficial to the district.
As proposed, S.B. 1584 amends current law relating to the validation of the dissolution of the Development Corporation of Presidio and the creation of the Presidio Municipal Development District.
RULEMAKING AUTHORITY
This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.
SECTION BY SECTION ANALYSIS
SECTION 1. Provides that the legislature validates and confirms:
(1) the dissolution of the Development Corporation of Presidio, a Type B economic development corporation, and the 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 the creation of the district and replaced the dedicated sales and use tax for the 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. Effective date: upon passage or September 1, 2013.