SRC-TBR H.B. 612 77(R)   BILL ANALYSIS


Senate Research Center   H.B. 612
77R657 JD-DBy: Maxey (Duncan)
Business & Commerce
5/10/2001
Engrossed


DIGEST AND PURPOSE 

Under current law, municipalities and other taxing units granting property
tax abatements are required to submit a report of tax abatements to the
comptroller of public accounts, who maintains a central registry of
abatement agreements, guidelines, and criteria.  H.B. 612 requires
municipalities to submit reports of tax increment financing agreements to
the comptroller. 

RULEMAKING AUTHORITY

This bill does not expressly grant any additional rulemaking authority to a
state officer, institution, or agency. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends the heading of Section 311.016, Tax Code, to read as
follows: 

 Sec. 311.016.  New heading: ANNUAL REPORT BY MUNICIPALITY.

SECTION 2.  Amends Section 311.016(b), Tax Code, to require the
municipality to send a copy of a report made under this section to the
attorney general and the comptroller. 

SECTION 3.  Amends Chapter 311, Tax Code, by adding Section 311.0163, as
follows: 

Sec. 311.0163.  ANNUAL REPORT BY COMPTROLLER.  (a)  Requires the
comptroller, not later than December 31 of each even-numbered year, to
submit a report to the legislature and to the governor on reinvestment
zones designated under this chapter and on project plans and reinvestment
zone financing plans adopted under this chapter.  

(b)  Requires a report submitted under this section to include, for each
reinvestment zone designated under this chapter, a summary of the
information reported under Section 311.016.  

SECTION 4.  Amends Chapter 311, Tax Code, by adding Sections 311.019 and
311.020, as follows: 

Sec. 311.019.  CENTRAL REGISTRY. (a)  Requires the comptroller to maintain
a central registry of reinvestment zones designated under this chapter;
project plans and reinvestment zone financing plans adopted under this
chapter and annual reports submitted under Section 311.016. 

(b)  Requires a municipality that designates a reinvestment zone or
approves a project plan or reinvestment zone financing plan under this
chapter to deliver to the comptroller before April 1 of the year following
the year in which the zone is designated or the plan is approved, a report
containing certain requirements. 

(c)  Requires a municipality that amends or modifies a project plan or
reinvestment zone  financing plan adopted under this chapter to deliver a
copy of the amendment or modification to the comptroller before April 1 of
the year following the year in which the plan was amended or modified. 

(d)  Requires that, not later than April 1, 2002, each municipality that
designated a reinvestment zone or approved a project plan or reinvestment
zone financing plan under this chapter before January 1, 2001, deliver to
the comptroller a report containing the information described by Subsection
(b) for each zone or plan.  Provides that this subsection expires January
1, 2003.  

Sec. 311.020.  STATE ASSISTANCE.  (a)  Authorizes the comptroller, on
request of the governing body of a municipality or of the presiding officer
of the governing body, to provide assistance to a municipality relating to
the administration of this chapter.  

(b)  Authorizes the Texas Department of Economic Development and the
comptroller to provide technical assistance to a municipality regarding the
designation of reinvestment zones under this chapter and the adoption and
execution of project plans or reinvestment zone financing plans under this
chapter.  

SECTION 5.  Effective date: upon passage.