Texas 2021 - 87th Regular

Texas House Bill HB3267

Caption

Relating to a restriction on the use of money in the tax increment fund for a tax increment financing reinvestment zone created by certain home-rule municipalities.

Impact

The passage of HB 3267 would significantly affect the funding mechanisms for various development projects undertaken by home-rule municipalities. By restricting the use of tax increment funds for service payments, the municipalities would need to find alternative financing solutions, potentially limiting their ability to support projects aimed at community development and revitalization. This could lead to implications for local economic growth, as the effectiveness of reinvestment zones hinges on their ability to effectively deploy resources for project-related expenditures.

Summary

House Bill 3267 seeks to amend the Texas Tax Code by adding a new section that imposes restrictions on the use of money from tax increment funds in certain reinvestment zones created by home-rule municipalities. Specifically, the bill targets zones where property was annexed for limited purposes before 2003 and later for full purposes after specific criteria were met. The primary thrust of this legislation is to prevent municipalities from utilizing these funds to pay for services rendered or to reimburse previous service costs within these designated reinvestment zones, ensuring that the financial resources are not redirected for municipal operational costs.

Contention

Notable points of contention around HB 3267 may arise from the differing perspectives of local government authorities and state legislators. Proponents might argue that the bill serves to clarify the use of tax increment funds, protecting these resources for intended developmental purposes. Conversely, critics may express concern over the limitations imposed on municipal governments that could undermine their capacity to fund essential services that accompany new developments, thereby exacerbating existing challenges in service delivery and resource allocation.

Companion Bills

No companion bills found.

Previously Filed As

TX HB4433

Relating to the authority of the board of directors of a tax increment financing reinvestment zone to use money in the tax increment fund established for the zone to compensate certain homeowners for the increase in taxes associated with the zone.

TX HB4473

Relating to the calculation of ad valorem tax rates by certain taxing units that participate in one or more reinvestment zones for tax increment financing.

TX SB1096

Relating to the treatment of certain residence homesteads for purposes of the Tax Increment Financing Act.

TX HB774

Relating to the ad valorem tax appraisal of an older residence homestead located in or near a tax increment financing reinvestment zone.

TX HB739

Relating to provisions applicable to affordable housing located in a reinvestment zone in certain areas of the state; authorizing a fee.

TX HB5311

Relating to the creation and operation of a development zone by and the tax revenue received by The Woodlands Township; providing authority to issue bonds; providing authority to impose assessments and taxes.

TX HB5336

Relating to the powers and duties of Port Freeport; limiting the authority of certain municipalities to regulate land use by Port Freeport; and the creation of a reinvestment zone containing property owned by Port Freeport.

TX SB2606

Relating to the creation and operation of a development zone by and the tax revenue received by The Woodlands Township; providing authority to issue bonds; providing authority to impose assessments and taxes.

TX HB3383

Relating to the eligibility of certain municipalities to establish homestead preservation districts and reinvestment zones and to certain regulatory prohibitions applicable in those districts and zones.

TX HJR52

Proposing a constitutional amendment authorizing the legislature to provide that the officials responsible for appraising property for ad valorem taxation in a county may exclude from consideration the value of new or substantially remodeled residential property when determining the market value of an older residence homestead located in or near a tax increment financing reinvestment zone.

Similar Bills

TX HB3589

Relating to the use of tax increment financing by certain municipalities.

UT HB0362

Taxing Entity Amendments

TX HB563

Relating to the purposes and designation of a transportation reinvestment zone.

TX SB650

Relating to tax increment financing.

TX HB1810

Relating to the purposes and designation of a transportation reinvestment zone.

TX SB2378

Relating to the purposes and designation of a transportation reinvestment zone.

TX HB204

Relating to the purposes and designation of a transportation reinvestment zone.

TX SB1110

Relating to the purposes and designation of a transportation reinvestment zone.