| 1 | 1 | | 89R9927 CJD-F |
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| 2 | 2 | | By: Villalobos H.B. No. 2877 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | |
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| 6 | 6 | | |
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| 7 | 7 | | A BILL TO BE ENTITLED |
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| 8 | 8 | | AN ACT |
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| 9 | 9 | | relating to the definition of a project financing zone for the |
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| 10 | 10 | | purposes of certain municipalities that use certain tax revenue to |
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| 11 | 11 | | fund convention center facilities, multipurpose arenas, venues, |
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| 12 | 12 | | and related infrastructure. |
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| 13 | 13 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 14 | 14 | | SECTION 1. Section 351.1015(a)(4), Tax Code, is amended to |
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| 15 | 15 | | read as follows: |
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| 16 | 16 | | (4) "Project financing zone" means an area within a |
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| 17 | 17 | | municipality: |
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| 18 | 18 | | (A) that the municipality by ordinance or by |
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| 19 | 19 | | agreement under Chapter 380, Local Government Code, designates as a |
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| 20 | 20 | | project financing zone; |
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| 21 | 21 | | (B) the boundaries of which are: |
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| 22 | 22 | | (i) within a three-mile radius of the |
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| 23 | 23 | | center of a qualified project; or |
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| 24 | 24 | | (ii) if designated by a municipality |
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| 25 | 25 | | described by Section 351.001(7)(B), a contiguous geographic area |
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| 26 | 26 | | the total area of which is less than or equal to the maximum area |
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| 27 | 27 | | allowed under Subparagraph (i) that contains the qualified project; |
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| 28 | 28 | | (C) the designation of which specifies: |
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| 29 | 29 | | (i) for a zone the boundaries of which are |
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| 30 | 30 | | prescribed by Paragraph (B)(i), the longitude and latitude of the |
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| 31 | 31 | | center of the qualified project; or |
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| 32 | 32 | | (ii) for a zone the boundaries of which are |
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| 33 | 33 | | prescribed by Paragraph (B)(ii), the exact boundaries of the zone; |
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| 34 | 34 | | and |
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| 35 | 35 | | (D) the designation of which expires not later |
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| 36 | 36 | | than the 30th anniversary of the date of designation. |
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| 37 | 37 | | SECTION 2. This Act takes effect September 1, 2025. |
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