Enrolled Bill Summary

House Bill 3143	House Author:  Murphy et al.
Effective:  9-1-19	Senate Sponsor:  West et al.

            House Bill 3143 amends the Tax Code to postpone the expiration of the Property Redevelopment and Tax Abatement Act to 2029. The bill makes additional revisions to that act to do the following:

·         increase public participation in the adoption, amendment, repeal, or reauthorization of guidelines and criteria governing tax abatement agreements;

·         establish additional reporting requirements regarding the appraised value of property previously subject to an abatement agreement;

·         set out additional requirements for the contents of notice of the public meeting at which the governing body of a municipality will consider the approval of a tax abatement agreement with a property owner; and

·         require a tax abatement agreement in a county reinvestment zone to be approved by the governing body of the county or other taxing unit in order to be effective.