LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 75th Regular Session April 14, 1997 TO: Honorable Rene Oliveira, Chair IN RE: House Bill No. 3083 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.) this office has detemined the following: Biennial Net Impact to General Revenue Funds by HB3083-As Introduced No fiscal implication to the State is anticipated. Similar annual fiscal implications 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. 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: 304 Comptroller of Public Accounts LBB Staff: JK ,TH ,BR