88R2082 CJC-D
By: Harris of Anderson H.B. No. 4473
A BILL TO BE ENTITLED
AN ACT
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.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 26.03, Tax Code, is amended by adding
Subsection (e) to read as follows:
(e) For a taxing unit in which a tax rate calculation for a
tax year is affected by the application of this section, the
adjustments to the value of property taxable by the unit and to the
amount of taxes imposed or collected by the unit prescribed by this
section shall be calculated separately for each reinvestment zone
in which the taxing unit participates. The comptroller shall
ensure that the tax rate calculation forms prescribed under Section
5.07 provide for the calculations to be made in the manner required
by this subsection.
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, 2023.