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House Bill 3465 |
House Author: Sheffield |
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Effective: 9-1-11 |
Senate Sponsor: Fraser |
House Bill 3465 amends Government Code provisions relating to the determination of school district property values to add a provision that is applicable only to a reinvestment zone created by a municipality that has a population of 70,000 or less and is located in a county in which all or part of a military installation is located. The bill limits the number of years for which the total dollar amount of any captured appraised value of property in a reinvestment zone may be deducted from the total taxable value of property in the district to the duration of the zone as determined under applicable provisions of the Tax Increment Financing Act if the municipality adopts an ordinance on or after January 1, 2017, that designates a termination date for the zone that is later than the termination date designated in the ordinance creating the zone.