Enrolled Bill Summary

Senate Bill 657 amends the Tax Code to provide that the portion of a tax increment that a taxing unit has agreed to pay into a tax increment fund for a reinvestment zone is not excluded from the amount of taxes imposed by the unit if, in the same tax rate calculation, there is no portion of captured appraised value excluded from the value of property taxable by the unit for the same investment zone. The bill makes provisions relating to treatment of captured appraised value and tax increments applicable to all taxing units except school districts by deleting language limiting application to taxing units in counties with a population of less than 500,000.