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AN ACT
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relating to the participation by certain taxing units in tax |
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increment financing and the payment of tax increments into the tax |
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increment fund for a reinvestment zone. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 311.013, Tax Code, is amended by |
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amending Subsection (c) and adding Subsections (c-1), (f-1), and |
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(f-2) to read as follows: |
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(c) Notwithstanding any termination of the reinvestment |
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zone under Section 311.017(a) and unless otherwise specified by an |
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agreement between the taxing unit and the municipality or county |
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that created the zone, a taxing unit shall make a payment required |
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by Subsection (b) not later than the 90th day after the later of: |
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(1) the delinquency date for the unit's property |
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taxes; or |
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(2) the date the municipality or county that created |
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the zone submits to the taxing unit an invoice specifying the tax |
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increment produced by the taxing unit and the amount the taxing unit |
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is required to pay into the tax increment fund for the zone. |
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(c-1) A delinquent payment incurs a penalty of five percent |
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of the amount delinquent and accrues interest at an annual rate of |
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10 percent. |
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(f-1) This subsection does not apply to a hospital district |
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to which Section 281.095, Health and Safety Code, applies. |
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Notwithstanding Subsection (f), the commissioners court of a county |
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that enters into an agreement with the governing body of a |
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municipality under Subsection (f) may enter into an agreement with |
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the governing body of the municipality under that subsection on |
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behalf of a taxing unit other than the county if by statute the ad |
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valorem tax rate of the other taxing unit is approved by the |
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commissioners court or the commissioners court is expressly |
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required by statute to levy the ad valorem taxes of the other taxing |
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unit. The agreement entered into on behalf of the other taxing unit |
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is not required to contain the same conditions as the agreement |
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entered into on behalf of the county. This subsection does not |
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authorize the commissioners court of a county to enter into an |
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agreement on behalf of another taxing unit solely because the |
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county tax assessor-collector is required by law to assess or |
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collect the taxing unit's ad valorem taxes. |
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(f-2) This subsection does not apply to a hospital district |
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to which Section 281.095, Health and Safety Code, applies. |
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Notwithstanding Subsection (f), the commissioners court of a county |
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that creates a zone may provide by order for the payment into the |
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tax increment fund for the zone of a portion of the tax increment |
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produced by a taxing unit other than the county if by statute the ad |
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valorem tax rate of the other taxing unit is approved by the |
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commissioners court or the commissioners court is expressly |
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required by statute to levy the ad valorem taxes of the other taxing |
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unit. The order may include conditions for payment of that tax |
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increment into the fund that are different from the conditions |
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applicable to the county's obligation to pay into the fund the tax |
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increment produced by the county. This subsection does not |
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authorize the commissioners court of a county to provide for the |
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payment into the fund of a portion of the tax increment produced by |
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another taxing unit solely because the county tax |
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assessor-collector is required by law to assess or collect the |
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taxing unit's ad valorem taxes. |
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SECTION 2. This Act applies only to a taxing unit's tax |
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increment for a period occurring on or after the effective date of |
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this Act. A taxing unit's tax increment for a period occurring |
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before the effective date of this Act is governed by the law in |
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effect for that period, and the former law is continued in effect |
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for that purpose. |
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SECTION 3. 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, 2011. |
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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. 627 passed the Senate on |
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April 27, 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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I hereby certify that S.B. No. 627 passed the House on |
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May 23, 2011, by the following vote: Yeas 142, 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 |