Enrolled Bill Summary

House Bill 3030	House Author:  McClendon
Effective:  9-1-11	Senate Sponsor:  Wentworth

            House Bill 3030 amends the Transportation Code to allow an intermunicipal commuter rail district to enter into an interlocal contract with one or more local government members of the district to finance transportation infrastructure.  The bill requires a district created before January 1, 2005, that creates a transportation infrastructure zone to establish a tax increment fund and specifies the revenue that must be deposited in the fund.  The bill authorizes a local government member of such a district to issue tax increment bonds or notes secured by revenue in the local government's tax increment fund for purposes of the zone and includes certain financing provisions relating to the tax increment bonds and notes.  The bill also includes provisions relating to the geographic area and amount paid by a local government member of such a district.