| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 89R15907 BEF-D | |
| 2 | 2 | By: Cook S.B. No. 2737 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | ||
| 6 | 6 | ||
| 7 | 7 | A BILL TO BE ENTITLED | |
| 8 | 8 | AN ACT | |
| 9 | 9 | relating to the requirement that the board of directors of certain | |
| 10 | 10 | tax increment reinvestment zones have conducted by the office of | |
| 11 | 11 | the city controller of the municipality that created the zone an | |
| 12 | 12 | annual financial audit. | |
| 13 | 13 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 14 | 14 | SECTION 1. Section 311.010, Tax Code, is amended by adding | |
| 15 | 15 | Subsection (k) to read as follows: | |
| 16 | 16 | (k) The board of directors of a reinvestment zone to which | |
| 17 | 17 | this subsection applies shall enter into an agreement with the | |
| 18 | 18 | office of the city controller of the municipality that created the | |
| 19 | 19 | reinvestment zone to have conducted by the office a financial audit | |
| 20 | 20 | of the reinvestment zone at least once each fiscal year of the | |
| 21 | 21 | reinvestment zone. This subsection applies only to a reinvestment | |
| 22 | 22 | zone created by a municipality with a population of at least two | |
| 23 | 23 | million. | |
| 24 | 24 | SECTION 2. Section 311.010(k), Tax Code, as added by this | |
| 25 | 25 | Act, applies only to a fiscal year of a tax increment reinvestment | |
| 26 | 26 | zone that begins on or after the effective date of this Act. | |
| 27 | 27 | SECTION 3. This Act takes effect September 1, 2025. |