By: Muñoz, Jr. H.B. No. 4485
A BILL TO BE ENTITLED
AN ACT
relating to a study of economic development incentives provided to
businesses and members of the public by certain political
subdivisions.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. (a) The comptroller of public accounts shall
conduct a study to identify the types of economic development
incentives and the costs of those incentives provided to businesses
and members of the public by the following political subdivisions
during the 2018-2019 fiscal year of the political subdivision,
including incentives designed to attract a business prospect to
locate, stay, or expand in the political subdivision:
(1) a county with a population of more than 700,000 and
less than 775,000 according to the most recent federal decennial
census; and
(2) each municipality located in a county described by
Subdivision (1) of this subsection.
(b) In conducting the study, the comptroller shall, for the
period described by Subsection (a) of this section:
(1) identify each tax incentive, including each tax
abatement, credit, discount, exemption, or special valuation
provided to a business or member of the public by each political
subdivision for economic development purposes;
(2) identify each grant, loan, or other direct
expenditure provided to a business or member of the public by each
political subdivision for economic development purposes; and
(3) determine the total cost of the economic
development incentives identified in Subdivisions (1) and (2) of
this subsection for each political subdivision.
(c) Not later than June 1, 2020, the comptroller shall
prepare and submit to the governor, lieutenant governor, and
speaker of the house of representatives a written report containing
the results of the study and any recommendations for legislative or
other action.
(d) This Act expires January 1, 2021.
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, 2019.