Bill Text: TX HB4473 | 2023-2024 | 88th Legislature | Introduced
Bill Title: Relating to the calculation of ad valorem tax rates by certain taxing units that participate in one or more reinvestment zones for tax increment financing.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2023-03-21 - Referred to Ways & Means [HB4473 Detail]
Download: Texas-2023-HB4473-Introduced.html
| 88R2082 CJC-D | ||
| By: Harris of Anderson | H.B. No. 4473 | |
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| relating to the calculation of ad valorem tax rates by certain | ||
| taxing units that participate in one or more reinvestment zones for | ||
| tax increment financing. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 26.03, Tax Code, is amended by adding | ||
| Subsection (e) to read as follows: | ||
| (e) For a taxing unit in which a tax rate calculation for a | ||
| tax year is affected by the application of this section, the | ||
| adjustments to the value of property taxable by the unit and to the | ||
| amount of taxes imposed or collected by the unit prescribed by this | ||
| section shall be calculated separately for each reinvestment zone | ||
| in which the taxing unit participates. The comptroller shall | ||
| ensure that the tax rate calculation forms prescribed under Section | ||
| 5.07 provide for the calculations to be made in the manner required | ||
| by this subsection. | ||
| SECTION 2. This Act takes effect immediately if it receives | ||
| a vote of two-thirds of all the members elected to each house, as | ||
| provided by Section 39, Article III, Texas Constitution. If this | ||
| Act does not receive the vote necessary for immediate effect, this | ||
| Act takes effect September 1, 2023. | ||
