By: Pacheco H.B. No. 2111
A BILL TO BE ENTITLED
AN ACT
relating to economic development, providing for an amendment to
certain existing tax increment reinvestment zones to extend the
duration of the zones.
BE IT
ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Chapter 403, Government Code, as amended by
deleting a portion of Section 403.302(e) as follows:
Section 403.302(e) The total dollar amount deducted in each
year as required by Subsection (d)(4) in a reinvestment zone
created after January 1, 1999, may not exceed the captured
appraised value estimated for that year as required by Section
311.011(c)(8), Tax Code, in the reinvestment zone financing plan
approved under Section 311.011(d), Tax Code, before September 1,
1999. The number of years for which the total dollar amount may be
deducted under Subsection (d)(4) shall for any zone, including
those created on or before January 1, 1999, be limited to the
duration of the zone as specified as required by Section
311.011(c)(9), Tax Code, in the reinvestment zone financing plan
approved under Section 311.011(d), Tax Code, before September 1,
1999. The total dollar amount deducted under Subsection (d)(4) for
any zone, including those created on or before January 1, 1999, may
not be increased by any reinvestment zone financing plan amendments
that occur after August 31, 1999. The total dollar amount deducted
under Subsection (d)(4) for any zone, including those created on or
before January 1, 1999, may not be increased by a change made after
August 31, 1999, in the portion of the tax increment retained by the
school district.
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 votes necessary for immediate effect, this
Act takes effect September 1, 2019.