| 2 | 4 | | |
|---|
| 3 | 5 | | |
|---|
| 4 | 6 | | A BILL TO BE ENTITLED |
|---|
| 5 | 7 | | AN ACT |
|---|
| 6 | 8 | | relating to the authority of the Brazoria County Commissioners |
|---|
| 7 | 9 | | Court to execute tax abatement agreements for property within the |
|---|
| 8 | 10 | | Port Freeport district. |
|---|
| 9 | 11 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|---|
| 10 | 12 | | SECTION 1. Section 5002.203, Special District Local Laws |
|---|
| 11 | 13 | | Code, is amended to read as follows: |
|---|
| 12 | 14 | | Sec. 5002.203. DESIGNATION OF REINVESTMENT ZONE. (a) |
|---|
| 13 | 15 | | Notwithstanding Subchapters B and C, Chapter 312, Tax Code, the |
|---|
| 14 | 16 | | district may submit a written request to the commissioners court of |
|---|
| 15 | 17 | | a county in which a property owned by the district is located for |
|---|
| 16 | 18 | | the commissioners court to designate the property as a reinvestment |
|---|
| 17 | 19 | | zone [or area] for the purposes of Chapter 312, Tax Code. The |
|---|
| 18 | 20 | | commissioners court may designate the property as a reinvestment |
|---|
| 19 | 21 | | zone [or area] if the commissioners court finds the criteria set |
|---|
| 20 | 22 | | forth in Section 312.202, Tax Code, are met for the property as if a |
|---|
| 21 | 23 | | municipality in which the property is located were creating the |
|---|
| 22 | 24 | | zone. |
|---|
| 23 | 25 | | (b) The commissioners court may execute a tax abatement |
|---|
| 24 | 26 | | agreement with the owner of a leasehold interest in tax-exempt real |
|---|
| 25 | 27 | | property or property owned by the district located in a |
|---|
| 26 | 28 | | reinvestment zone designated under this subchapter to exempt all or |
|---|
| 27 | 29 | | a portion of the value of the leasehold interest in the real |
|---|
| 28 | 30 | | property. The court may execute a tax abatement agreement with the |
|---|
| 29 | 31 | | owners of tangible personal property or an improvement located on |
|---|
| 30 | 32 | | tax-exempt real property or property owned by the district that is |
|---|
| 31 | 33 | | located in a reinvestment zone designated under this subchapter to |
|---|
| 32 | 34 | | exempt all or a portion of the value of the tangible personal |
|---|
| 33 | 35 | | property or improvement located on the real property. |
|---|
| 34 | 36 | | (c) The other terms of an agreement entered into under this |
|---|
| 35 | 37 | | section are governed by Chapter 312, Tax Code. |
|---|
| 36 | 38 | | SECTION 2. This Act takes effect immediately if it receives |
|---|
| 37 | 39 | | a vote of two-thirds of all the members elected to each house, as |
|---|
| 38 | 40 | | provided by Section 39, Article III, Texas Constitution. If this |
|---|
| 39 | 41 | | Act does not receive the vote necessary for immediate effect, this |
|---|
| 40 | 42 | | Act takes effect September 1, 2025. |
|---|