By Mowery H.J.R. No. 37
75R1740 SMH-D
A JOINT RESOLUTION
1-1 proposing a constitutional amendment to repeal the provision that
1-2 authorizes the legislature to permit taxing units to grant ad
1-3 valorem tax exemptions for economic development.
1-4 BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 1-g, Article VIII, Texas Constitution, is
1-6 amended to read as follows:
1-7 Sec. 1-g. [(a) The legislature by general law may authorize
1-8 cities, towns, and other taxing units to grant exemptions or other
1-9 relief from ad valorem taxes on property located in a reinvestment
1-10 zone for the purpose of encouraging development or redevelopment
1-11 and improvement of the property.]
1-12 [(b)] The legislature by general law may authorize an
1-13 incorporated city or town to issue bonds or notes to finance the
1-14 development or redevelopment of an unproductive, underdeveloped, or
1-15 blighted area within the city or town and to pledge for repayment
1-16 of those bonds or notes increases in ad valorem tax revenues
1-17 imposed on property in the area by the city or town and other
1-18 political subdivisions.
1-19 SECTION 2. Article VIII, Texas Constitution, is amended by
1-20 adding Section 1-g-1 to read as follows:
1-21 Sec. 1-g-1. TEMPORARY PROVISION. (a) This temporary
1-22 provision applies to the constitutional amendment proposed by ___
1-23 J.R. No.____, 75th Legislature, Regular Session, 1997, and expires
1-24 January 1, 2008.
2-1 (b) The amendment to Section 1-g, Article VIII, of this
2-2 constitution takes effect January 1, 1998.
2-3 (c) The amendment does not affect a tax abatement agreement
2-4 entered into under Section 1-g, Article VIII, of this constitution
2-5 before the effective date of the amendment. A tax abatement
2-6 agreement entered into by a taxing unit under that section before
2-7 the effective date of the amendment is governed by the law as it
2-8 existed on the date the agreement was executed, and that law is
2-9 continued in effect for that purpose.
2-10 SECTION 3. This proposed constitutional amendment shall be
2-11 submitted to the voters at an election to be held November 4, 1997.
2-12 The ballot shall be printed to permit voting for or against the
2-13 proposition: "The constitutional amendment to repeal the provision
2-14 that authorizes the legislature to permit taxing units to grant ad
2-15 valorem tax exemptions for economic development."