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Senate Bill 1110 |
Senate Author: Nichols |
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Effective: 9-1-13 |
House Sponsor: Pickett |
Previous law authorized a municipality or county to designate a transportation reinvestment zone to promote a transportation project. Senate Bill 1110 amends the Transportation Code to authorize a municipality or county to designate a transportation reinvestment zone to promote one or more transportation projects. The bill specifies that "transportation project" has the same meaning given to that term in provisions relating to regional mobility authorities.
Current law requires a municipal ordinance designating a transportation reinvestment zone to contain findings that promotion of a transportation project will cultivate the improvement, development, or redevelopment of the zone. Senate Bill 1110 establishes the same requirement for a county order or resolution designating a transportation reinvestment zone.
Current law authorizes the governing body of a municipality or county to contract with a public or private entity to develop, redevelop, or improve a transportation project in a transportation reinvestment zone and to pledge and assign all or a specified amount of money from a tax increment or property tax assessment, as applicable to that entity. Senate Bill 1110 clarifies that the governing body is prohibited from rescinding the pledge or assignment until the contractual commitments that are the subject of the pledge or assignment have been satisfied. The bill also authorizes a county, similar to the existing authority for a municipality, to use any amount remaining from a property tax increment or assessment for other purposes as determined by the commissioners court.
Senate Bill 1110 expands the types of projects in a transportation reinvestment zone for which a municipality or county may establish a sales tax increment account to include any transportation project, as that term is defined in provisions relating to regional mobility authorities. The bill repeals a provision authorizing a county that collects a property tax increment to issue bonds to pay all or part of the cost of a transportation project and to pledge or assign all of a specified amount of money in the tax increment account to secure those bonds. Among other provisions, Senate Bill 1110 authorizes the governing body of a county or municipality to designate a transportation reinvestment zone for a transportation project located outside the boundaries of the county or municipality if specified conditions are met, including that a zone has been designated for the same project by one or more counties or municipalities in whose boundaries the project is located.