89R15907 BEF-D
By: Cook S.B. No. 2737
A BILL TO BE ENTITLED
AN ACT
relating to the requirement that the board of directors of certain
tax increment reinvestment zones have conducted by the office of
the city controller of the municipality that created the zone an
annual financial audit.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 311.010, Tax Code, is amended by adding
Subsection (k) to read as follows:
(k) The board of directors of a reinvestment zone to which
this subsection applies shall enter into an agreement with the
office of the city controller of the municipality that created the
reinvestment zone to have conducted by the office a financial audit
of the reinvestment zone at least once each fiscal year of the
reinvestment zone. This subsection applies only to a reinvestment
zone created by a municipality with a population of at least two
million.
SECTION 2. Section 311.010(k), Tax Code, as added by this
Act, applies only to a fiscal year of a tax increment reinvestment
zone that begins on or after the effective date of this Act.
SECTION 3. This Act takes effect September 1, 2025.