Enrolled Bill Summary

House Bill 1449 amends the Tax Code to continue the Property Redevelopment and Tax Abatement Act, previously scheduled to expire September 1, 2001, until September 1, 2009. The bill, however, prohibits a school district from entering into a tax abatement agreement on or after September 1, 2001. It requires the comptroller not later than December 31 of each even-numbered year to submit a report to the legislature and to the governor on reinvestment zones designated and tax abatement agreements adopted under the act.