By Mowery                                        H.B. No. 392

      75R570 SMH-D                           

                                A BILL TO BE ENTITLED

 1-1                                   AN ACT

 1-2     relating to the authority of a taxing unit to enter into ad valorem

 1-3     tax abatement agreements.

 1-4           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

 1-5           SECTION 1.  Chapter 312, Tax Code, is repealed.

 1-6           SECTION 2.  The repeal of Chapter 312, Tax Code, by this Act

 1-7     does not affect a tax abatement agreement entered into under that

 1-8     chapter before the effective date of this Act.  A tax abatement

 1-9     agreement entered into before the effective date of this Act is

1-10     governed by Chapter 312, Tax Code, as that chapter existed on the

1-11     date that the agreement was executed, and that chapter is continued

1-12     in effect for that purpose.

1-13           SECTION 3.  This Act takes effect September 1, 1997.

1-14           SECTION 4.  The importance of this legislation and the

1-15     crowded condition of the calendars in both houses create an

1-16     emergency and an imperative public necessity that the

1-17     constitutional rule requiring bills to be read on three several

1-18     days in each house be suspended, and this rule is hereby suspended.