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AN ACT
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relating to the period for which a school district's participation |
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in certain tax increment financing reinvestment zones may be taken |
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into account in determining the total taxable value of property in |
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the school district. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 403.302, Government Code, is amended by |
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adding Subsection (e-1) to read as follows: |
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(e-1) This subsection applies only to a reinvestment zone |
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created by a municipality that has a population of 70,000 or less |
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and is located in a county in which all or part of a military |
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installation is located. Notwithstanding Subsection (e), if on or |
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after January 1, 2017, the municipality adopts an ordinance |
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designating a termination date for the zone that is later than the |
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termination date designated in the ordinance creating the zone, the |
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number of years for which the total dollar amount may be deducted |
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under Subsection (d)(4) is limited to the duration of the zone as |
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determined under Section 311.017, Tax Code. |
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SECTION 2. This Act takes effect September 1, 2011. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I certify that H.B. No. 3465 was passed by the House on April |
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26, 2011, by the following vote: Yeas 147, Nays 1, 2 present, not |
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voting. |
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______________________________ |
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Chief Clerk of the House |
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I certify that H.B. No. 3465 was passed by the Senate on May |
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19, 2011, by the following vote: Yeas 31, Nays 0 |
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______________________________ |
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Secretary of the Senate |
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APPROVED: _____________________ |
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Date |
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_____________________ |
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Governor |