SRC-SEW H.B. 3001 77(R)   BILL ANALYSIS


Senate Research Center   H.B. 3001
77R9266 TBy: Uresti (Sponsor Unknown)
Intergovernmental Relations
5/11/2001
Engrossed


DIGEST AND PURPOSE 

Under current law, tax abatement agreements in reinvestment zones have a
maximum term phase-in of 10 years that commences the year after the
agreement is executed. However, some businesses that make capital
investments may require more time to complete such investments. H.B. 3001
authorizes tax abatement agreements in reinvestment zones to take effect on
January 1 of the next year after the date the improvements or repairs are
substantially completed.  

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 Chapter 312.204(a), Tax Code, to authorize the tax
abatement agreement to take effect on January 1 of the next tax year after
the date the improvements or repairs are substantially completed.  

SECTION 2.  Effective date:  September 1, 2001.