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House Bill 2139 |
House Author: Dutton |
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Effective: 6-14-13 |
Senate Sponsor: Ellis |
House Bill 2139 amends the Special District Local Laws Code to authorize the Near Northside Management District to designate all or any part of the district as a tax increment reinvestment zone and to use tax increment financing under the Tax Increment Financing Act in the manner provided for a municipality by that act, with the exception that the district's board of directors functions also as the reinvestment zone's board of directors. The bill confers on the district all powers provided under the Tax Increment Financing Act and authorizes the district and an overlapping taxing unit to enter into an interlocal agreement for the payment of all or a portion of the tax increment of the unit to the district.