Enrolled Bill Summary

House Bill 612 amends the Tax Increment Financing Act to require that a copy of a municipality's annual report on a reinvestment zone be sent to the comptroller. A municipality that designates or approves a project plan or reinvestment zone financing plan under the act must deliver to the comptroller by April 1 of the following year a general description of the zone plus a copy of each adopted plan and any other required information. Plan amendments and modifications likewise must be delivered to the comptroller. The bill authorizes the comptroller and the Texas Department of Economic Development to provide certain assistance to a municipality under the act. It requires the comptroller to maintain a central registry of designated reinvestment zones, adopted plans, and municipalities' annual reports, and to submit a biennial report to the legislature and governor on zone designations and plan adoptions.