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AN ACT
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relating to the authority of certain municipalities to extend the |
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termination date for a reinvestment zone created under the Tax |
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Increment Financing Act. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 311.017, Tax Code, is amended by adding |
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Subsection (a-1) to read as follows: |
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(a-1) This subsection applies only to a reinvestment zone |
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created by a municipality that has a population of 195,000 or more |
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and is the county seat of a county that has a population of 245,000 |
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or less. Notwithstanding Subsection (a)(1), a municipality by |
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ordinance adopted subsequent to the ordinance adopted by the |
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municipality creating a reinvestment zone may designate a |
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termination date for the zone that is later than the termination |
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date designated in the ordinance creating the zone but not later |
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than the 20th anniversary of that date. If a municipality adopts an |
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ordinance extending the termination date for a reinvestment zone as |
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authorized by this subsection, the zone terminates on the earlier |
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of: |
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(1) the termination date designated in the ordinance; |
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or |
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(2) the date provided by Subsection (a)(2). |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2009. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I hereby certify that S.B. No. 1105 passed the Senate on |
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April 16, 2009, by the following vote: Yeas 31, Nays 0. |
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______________________________ |
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Secretary of the Senate |
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I hereby certify that S.B. No. 1105 passed the House on |
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May 12, 2009, by the following vote: Yeas 149, Nays 0, one |
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present not voting. |
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______________________________ |
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Chief Clerk of the House |
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Approved: |
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______________________________ |
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Date |
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______________________________ |
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Governor |