| 1 | 1 | | 84R9730 CJC-D |
|---|
| 2 | 2 | | By: Fletcher H.B. No. 3763 |
|---|
| 3 | 3 | | |
|---|
| 4 | 4 | | |
|---|
| 5 | 5 | | A BILL TO BE ENTITLED |
|---|
| 6 | 6 | | AN ACT |
|---|
| 7 | 7 | | relating to the allocation of certain increases in state sales tax |
|---|
| 8 | 8 | | revenue due to transportation projects to the state highway fund |
|---|
| 9 | 9 | | through the use of economic impact zones established by the Texas |
|---|
| 10 | 10 | | Department of Transportation. |
|---|
| 11 | 11 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|---|
| 12 | 12 | | SECTION 1. Chapter 222, Transportation Code, is amended by |
|---|
| 13 | 13 | | adding Subchapter F to read as follows: |
|---|
| 14 | 14 | | SUBCHAPTER F. ECONOMIC IMPACT ZONES |
|---|
| 15 | 15 | | Sec. 222.151. DEFINITIONS. In this subchapter: |
|---|
| 16 | 16 | | (1) "Base year amount" means the amount of state sales |
|---|
| 17 | 17 | | tax revenue collected in a zone during the calendar year in which |
|---|
| 18 | 18 | | the zone is established. |
|---|
| 19 | 19 | | (2) "Sales tax increment" means the amount in any |
|---|
| 20 | 20 | | calendar year after the year in which the zone was established by |
|---|
| 21 | 21 | | which state sales tax revenue collected in the zone exceeds the base |
|---|
| 22 | 22 | | year amount. |
|---|
| 23 | 23 | | (3) "Zone" means an economic impact zone established |
|---|
| 24 | 24 | | under this subchapter. |
|---|
| 25 | 25 | | Sec. 222.152. AUTHORITY TO ESTABLISH ZONE. (a) The |
|---|
| 26 | 26 | | department may establish an economic impact zone around a |
|---|
| 27 | 27 | | transportation project, subject to certification by the |
|---|
| 28 | 28 | | Legislative Budget Board. |
|---|
| 29 | 29 | | (b) To the greatest extent practicable, the department |
|---|
| 30 | 30 | | shall collaborate with a municipality or county in which a zone will |
|---|
| 31 | 31 | | be located in establishing the zone. |
|---|
| 32 | 32 | | Sec. 222.153. ECONOMIC IMPACT STATEMENT; LEGISLATIVE |
|---|
| 33 | 33 | | BUDGET BOARD CERTIFICATION. (a) Before the department establishes |
|---|
| 34 | 34 | | a zone, the department must prepare an economic impact statement |
|---|
| 35 | 35 | | and submit the statement to the Legislative Budget Board. |
|---|
| 36 | 36 | | (b) The economic impact statement must: |
|---|
| 37 | 37 | | (1) clearly designate the boundaries of the zone; |
|---|
| 38 | 38 | | (2) identify the base year amount for the zone; and |
|---|
| 39 | 39 | | (3) contain estimates of the amount of state sales tax |
|---|
| 40 | 40 | | collections in the zone for the 30-year period following |
|---|
| 41 | 41 | | establishment of the zone. |
|---|
| 42 | 42 | | (c) After reviewing the economic impact statement, the |
|---|
| 43 | 43 | | Legislative Budget Board may certify the zone or return the |
|---|
| 44 | 44 | | statement to the department if the board determines more |
|---|
| 45 | 45 | | information is needed before the zone may be certified. |
|---|
| 46 | 46 | | (d) The department may establish a zone certified by the |
|---|
| 47 | 47 | | board at any time during the 12 months following certification. |
|---|
| 48 | 48 | | Sec. 222.154. COMPTROLLER ALLOCATION OF INCREMENT. (a) |
|---|
| 49 | 49 | | The department shall notify the comptroller of the department's |
|---|
| 50 | 50 | | establishment of a zone not later than the 30th day after the date |
|---|
| 51 | 51 | | the zone is established. The notification must include a copy of |
|---|
| 52 | 52 | | the zone's certification by the Legislative Budget Board. |
|---|
| 53 | 53 | | (b) Beginning on the first day of the calendar month |
|---|
| 54 | 54 | | following the establishment of the zone, the comptroller shall |
|---|
| 55 | 55 | | deposit the sales tax increment collected by or forwarded to the |
|---|
| 56 | 56 | | comptroller in a separate account outside the treasury with the |
|---|
| 57 | 57 | | comptroller. The comptroller may make a transfer authorized by |
|---|
| 58 | 58 | | this section from the account without the necessity of an |
|---|
| 59 | 59 | | appropriation. |
|---|
| 60 | 60 | | (c) The comptroller may estimate the amount of sales tax |
|---|
| 61 | 61 | | increment that will be deposited under Subsection (b) during each |
|---|
| 62 | 62 | | calendar year. The comptroller may make deposits to the account on |
|---|
| 63 | 63 | | a monthly basis based on the estimate. At the end of each calendar |
|---|
| 64 | 64 | | year, the comptroller shall adjust the deposits to reflect the |
|---|
| 65 | 65 | | amount of revenue actually deposited to the account during the |
|---|
| 66 | 66 | | calendar year. |
|---|
| 67 | 67 | | (d) On January 1 of each calendar year, the comptroller |
|---|
| 68 | 68 | | shall transfer the money deposited under Subsection (b) as follows: |
|---|
| 69 | 69 | | (1) 20 percent to the credit of the state highway fund; |
|---|
| 70 | 70 | | and |
|---|
| 71 | 71 | | (2) the remainder to the credit of the general revenue |
|---|
| 72 | 72 | | fund. |
|---|
| 73 | 73 | | (e) On termination of the zone, the comptroller shall |
|---|
| 74 | 74 | | transfer any money deposited under Subsection (b) that remains to |
|---|
| 75 | 75 | | the credit of the general revenue fund. |
|---|
| 76 | 76 | | Sec. 222.155. TERMINATION. A zone created under this |
|---|
| 77 | 77 | | subchapter terminates on the 30th anniversary of the date the zone |
|---|
| 78 | 78 | | was established. |
|---|
| 79 | 79 | | SECTION 2. This Act takes effect September 1, 2015. |
|---|