Bill Text: TX HB990 | 2011-2012 | 82nd Legislature | Comm Sub

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Bill Title: Relating to certain homestead preservation reinvestment zones.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Vetoed) 2011-06-17 - Vetoed by the Governor [HB990 Detail]

Download: Texas-2011-HB990-Comm_Sub.html

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By: Rodriguez (Senate Sponsor - Watson) H.B. No. 990
(In the Senate - Received from the House April 27, 2011;
May 2, 2011, read first time and referred to Committee on Economic
Development; May 13, 2011, reported favorably by the following
vote: Yeas 6, Nays 0; May 13, 2011, sent to printer.)

A BILL TO BE ENTITLED
AN ACT
relating to certain homestead preservation reinvestment zones.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 373A.1522, Local Government Code, is
amended to read as follows:
Sec. 373A.1522. EFFECTIVE DATE OF ZONE. The zone
designated by the ordinance adopted under Section 373A.1521 takes
effect on the date on which the county adopts a final order[:
[(1)] agreeing to the creation of the zone, the zone
boundaries, and the zone termination date specified by the
municipality under Section 373A.1521(1)[; and
[(2) specifying an amount of tax increment to be
deposited by the county into the tax increment fund that is equal to
the amount of the tax increment specified by the municipality under
Section 373A.1521(3)].
SECTION 2. Section 373A.155(b), Local Government Code, is
amended to read as follows:
(b) The county shall pay into the tax increment fund for the
zone the same percentage of the tax increment produced by the county
that [an amount equal to the tax increment paid by] the municipality
pays into the fund [as specified in the order adopted under Section
373A.1522].
SECTION 3. Subchapter D, Chapter 373A, Local Government
Code, is amended by adding Section 373A.159 to read as follows:
Sec. 373A.159. COMPOSITION OF BOARD OF DIRECTORS OF
HOMESTEAD PRESERVATION REINVESTMENT ZONES. (a) Notwithstanding
Chapter 311, Tax Code, the board of directors of a homestead
preservation reinvestment zone consists of at least 6 and not more
than 16 members, unless more than 16 members are required to satisfy
the requirements of this section.
(b) The municipality and county approving the payment of all
or part of the tax increment into the tax increment fund each may
appoint an equal number of members to the board.
(c) Members of the board are appointed for terms of two
years unless longer terms are provided under Section 11, Article
XI, Texas Constitution. Terms of members may be staggered.
(d) A vacancy on the board is filled for the unexpired term
by appointment of the governing body of the taxing unit that
appointed the director who served in the vacant position.
(e) To be eligible for appointment to the board, an
individual must:
(1) be a qualified voter of the county; or
(2) be at least 18 years of age and own real property
in the reinvestment zone or be an employee or agent of a person that
owns real property in the zone.
(f) Each year the board of directors of a reinvestment zone
shall elect one of its members to serve as presiding officer for a
term of one year. The board of directors may elect an assistant
presiding officer to preside in the absence of the presiding
officer or when there is a vacancy in the office of presiding
officer. The board may elect other officers as it considers
appropriate.
(g) A member of the board of directors of a homestead
preservation reinvestment zone:
(1) is not a public official by virtue of that
position; and
(2) unless otherwise ineligible, may be appointed to
serve concurrently on the board of directors of a local government
corporation created under Subchapter D, Chapter 431,
Transportation Code.
(h) The board of directors created in this section has the
powers and duties prescribed by Sections 311.010 and 311.011, Tax
Code.
SECTION 4. This Act takes effect September 1, 2011.
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