Bill Text: TX HB384 | 2021-2022 | 87th Legislature | Introduced

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Bill Title: Relating to the period for which a school district's participation in certain tax increment financing reinvestment zones may be taken into account in determining the total taxable value of property in the school district.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2021-03-08 - Left pending in committee [HB384 Detail]

Download: Texas-2021-HB384-Introduced.html

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87R1308 LHC-F
By: Pacheco H.B. No. 384

A BILL TO BE ENTITLED
AN ACT
relating to the period for which a school district's participation
in certain tax increment financing reinvestment zones may be taken
into account in determining the total taxable value of property in
the school district.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 403.302, Government Code, is amended by
adding Subsection (e-2) to read as follows:
(e-2) This subsection applies only to a reinvestment zone
created by a municipality that has a population of 1.1 million or
more and is predominantly located in a county that has a population
of 1.8 million or less. Notwithstanding Subsection (e), if the
municipality adopts an ordinance designating a termination date for
the zone that is later than the termination date designated in the
ordinance creating the zone, the number of years for which the total
dollar amount may be deducted under Subsection (d)(4) is limited to
the duration of the zone as determined under Section 311.017, Tax
Code.
SECTION 2. This Act takes effect September 1, 2021.