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House Bill 4771 |
House Author: Allen |
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Effective: 6-19-09 |
Senate Sponsor: Ellis |
House Bill 4771 amends the Special District Local Laws Code relating to Harris County Improvement District No. 5 to add provisions for the annexation or exclusion of territory by the district, economic development programs, and district authority to establish and implement tax increment reinvestment zones. The bill establishes that the district may borrow money according to terms and conditions determined by the board and that approval from the attorney general is not required for certain loans secured by district revenue other than property taxes. The bill increases from $25,000 to $50,000 the contract amount above which provisions relating to competitive bidding on certain public works apply. The bill allows the district to establish defined areas and, after approval at an election, impose a property tax only within the area or issue bonds payable from property taxes of the area to provide for services and improvements that primarily benefit the defined area.