Amend CSHB 2684 as follows:
(1) On page 4, line 26 (committee printing), insert after
"zone" and before the period "if any portion of that taxing unit's
tax increment will be used to pay for the public works or
improvements that are located outside the zone".
(2) On page 8, line 27, and page 9, lines 1-5 (committee
printing), strike SECTION 10 of the bill and renumber subsequent
sections of the bill accordingly.
(3) On page 9, between lines 22 and 23 (committee printing),
insert a new appropriately numbered section to read as follows and
renumber subsequent sections of the bill accordingly:
SECTION _____. Section 311.004 (a), Tax Code, is amended to
read as follows:
(a) The ordinance designating an area as a reinvestment zone
must:
(1) describe the boundaries of the zone with
sufficient definiteness to identify with ordinary and reasonable
certainty the territory included in the zone;
(2) create a board of directors for the zone and
specify the number of directors of the board as provided by Section
311.009;
(3) provide that the zone take effect immediately upon
passage of the ordinance <on January 1 of the year following the
year in which the ordinance is adopted>;
(4) provide a date for termination of the zone;
(5) assign a name to the zone for identification, with
the first zone created by the municipality designated as
"Reinvestment Zone Number One, City (or Town, as applicable) of
(name of municipality)" and subsequently created zones assigned
names in the same form numbered consecutively in the order of their
creation;
(6) establish a tax increment fund for the zone; and
(7) contain findings that:
(A) improvements in the zone will significantly enhance
the value of all the taxable real property in the zone and will be
of general benefit to the municipality; and
(B) the area meets the requirements of Section 311.005.