LEGISLATIVE BUDGET BOARD
                                   Austin, Texas
         
                                   FISCAL NOTE
                               75th Regular Session
         
                                  April 18, 1997
         
         
      TO: Honorable Rene Oliveira, Chair            IN RE:  House Bill No. 3083, Committee Report 1st House, Substituted
          Committee on Economic Development                              By: Coleman
          House
          Austin, Texas
         
         
         
         
         FROM:  John Keel, Director    
         
In response to your request for a Fiscal Note on HB3083 ( Relating 
to the Tax Increment Financing Act and to the creation of a 
public improvement district.) this office has detemined the 
following:
         
         Biennial Net Impact to General Revenue Funds by HB3083-Committee Report 1st House, Substituted
         
No fiscal implication to the State is anticipated.
         

         
 
The bill would allow an enterprise zone to be designated as 
a reinvestment zone under the Tax Increment Financing Act.  
Current law does not provide the option for an enterprise zone 
to be designated as an reinvestment zone. This expansion would 
apply to a governing body of a municipality with a population 
of 100,000 or more.

The bill would also require a project 
plan for a reinvestment zone located in a county with a population 
of 2.1 million or more to specify the manner in which the portion 
of the tax increment dedicated to low-income housing is to be 
spent and to provide for an annual allocation for that portion.

The 
bill would take effect September 1, 1997.
          
No fiscal implication to units of local government is anticipated.
          
   Source:            Agencies:   
                                         
                      LBB Staff:   JK ,TH ,BR