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House Bill 3896 |
House Author: Oliveira |
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Effective: 6-19-09 |
Senate Sponsor: Seliger |
House Bill 3896 amends the Tax Code to extend the expiration date of the Property Redevelopment and Tax Abatement Act from September 1, 2009, to September 1, 2019. It authorizes the governing body of a taxing unit granting an abatement and the owner of the property subject to the abatement to agree to defer commencement of the abatement period until a date subsequent to the date of the agreement but caps the duration of the abatement period at 10 years. The bill clarifies the authority of a county commissioners court to grant tax abatements involving real property located in a reinvestment zone.