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.