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House Bill 1651 |
House Author: Alonzo |
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Effective: 9-1-11 |
Senate Sponsor: West |
House Bill 1651 amends the Special District Local Laws Code to include revenue received by the North Oak Cliff Municipal Management District under the Tax Increment Financing Act among the sources of money that the district may use to secure district bonds. The bill authorizes the district, by the adoption of an order, to define areas or designate certain property of the district to pay for improvements, facilities, or services that primarily benefit that area or property and do not generally and directly benefit the district as a whole. The bill requires the district to hold an election in the defined area or in the designated property's boundaries before imposing a property tax or issuing bonds payable from the property tax in that defined area or designated property. The bill authorizes the district, on the adoption of an order and voter approval of the tax levy, to apply separately, differently, equitably, and specifically its taxing power and lien authority to the defined area or designated property and to issue bonds for the stated purposes.