By Oliveira                                     H.B. No. 1526

      75R3764 LJR-D                           

                                A BILL TO BE ENTITLED

 1-1                                   AN ACT

 1-2     relating to information and assistance concerning reinvestment

 1-3     zones.

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

 1-5           SECTION 1.  Section 312.005, Tax Code, is amended to read as

 1-6     follows:

 1-7           Sec. 312.005.  STATE ADMINISTRATION.  (a)  The comptroller

 1-8     [Texas Department of Commerce] shall maintain a central  registry

 1-9     of reinvestment zones designated under this chapter and of ad

1-10     valorem tax abatement agreements executed under this chapter.  Each

1-11     taxing unit that designates a reinvestment zone or executes a tax

1-12     abatement agreement under this chapter shall deliver to the

1-13     department and to the comptroller before April 1 of the year

1-14     following the year in which the zone is designated or the agreement

1-15     is executed a report providing the following information:

1-16                 (1)  for a reinvestment zone, a general description of

1-17     the zone, including its size, the types of property located in it,

1-18     its duration, and the guidelines and criteria established for the

1-19     reinvestment zone under Section 312.002, including subsequent

1-20     amendments and modifications of the guidelines or criteria;

1-21                 (2)  a copy of each tax abatement agreement to which

1-22     the taxing unit is a party; and

1-23                 (3)  any other information required by the comptroller

1-24     to administer Subchapter F, Chapter 111.

 2-1           (b)  The comptroller [department] may provide assistance to a

 2-2     taxing unit on request of its governing body or the presiding

 2-3     officer of its governing body relating to the administration of

 2-4     this chapter.  The Texas Department of Commerce and the comptroller

 2-5     may provide technical assistance to a local governing body

 2-6     regarding[,  including] the designation of reinvestment zones, the

 2-7     adoption of tax abatement guidelines, and the execution of tax

 2-8     abatement agreements.

 2-9           SECTION 2.  This Act takes effect September 1, 1997.

2-10           SECTION 3.  The importance of this legislation and the

2-11     crowded condition of the calendars in both houses create an

2-12     emergency and an imperative public necessity that the

2-13     constitutional rule requiring bills to be read on three several

2-14     days in each house be suspended, and this rule is hereby suspended.