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House Bill 2111 |
House Author: Pacheco et al. |
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Effective: Vetoed |
Senate Sponsor: Flores |
Current law allows for the value of property within a tax increment reinvestment zone created after January 1, 1999, to be deducted for a specified period as part of the comptroller of public accounts' study of school district property values. House Bill 2111 amends the Government Code to provide for the deduction of the value of the property within certain tax increment reinvestment zones created by the City of San Antonio until the date on which the zone is to be terminated as provided by the Tax Increment Financing Act.
Governor's Reason for Veto: "Texas stopped allowing school districts to voluntarily erode their tax bases many years ago because of the impact on the school finance system. House Bill 2111 would undo this effort by allowing Southside I.S.D. in San Antonio to contribute its maintenance and operation tax revenue to a tax increment reinvestment zone for an indefinite period of time. The bill also would force taxpayers in Southside I.S.D. to pay higher taxes, undermining the significant reforms accomplished this session."