By Maxey H.B. No. 612
77R657 JD-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the preparation and submission of certain reports by
1-3 municipalities and the comptroller of public accounts under the Tax
1-4 Increment Financing Act.
1-5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-6 SECTION 1. The heading of Section 311.016, Tax Code, is
1-7 amended to read as follows:
1-8 Sec. 311.016. ANNUAL REPORT BY MUNICIPALITY.
1-9 SECTION 2. Section 311.016(b), Tax Code, is amended to read
1-10 as follows:
1-11 (b) The municipality shall send a [A] copy of a report made
1-12 under this section [shall be sent] to:
1-13 (1) the attorney general; and
1-14 (2) the comptroller.
1-15 SECTION 3. Chapter 311, Tax Code, is amended by adding
1-16 Section 311.0163 to read as follows:
1-17 Sec. 311.0163. ANNUAL REPORT BY COMPTROLLER. (a) Not later
1-18 than December 31 of each even-numbered year, the comptroller shall
1-19 submit a report to the legislature and to the governor on
1-20 reinvestment zones designated under this chapter and on project
1-21 plans and reinvestment zone financing plans adopted under this
1-22 chapter.
1-23 (b) A report submitted under this section must include, for
1-24 each reinvestment zone designated under this chapter, a summary of
2-1 the information reported under Section 311.016.
2-2 SECTION 4. Chapter 311, Tax Code, is amended by adding
2-3 Sections 311.019 and 311.020 to read as follows:
2-4 Sec. 311.019. CENTRAL REGISTRY. (a) The comptroller shall
2-5 maintain a central registry of:
2-6 (1) reinvestment zones designated under this chapter;
2-7 (2) project plans and reinvestment zone financing
2-8 plans adopted under this chapter; and
2-9 (3) annual reports submitted under Section 311.016.
2-10 (b) A municipality that designates a reinvestment zone or
2-11 approves a project plan or reinvestment zone financing plan under
2-12 this chapter shall deliver to the comptroller before April 1 of the
2-13 year following the year in which the zone is designated or the plan
2-14 is approved a report containing:
2-15 (1) a general description of each zone, including:
2-16 (A) the size of the zone;
2-17 (B) the types of property located in the zone;
2-18 (C) the duration of the zone; and
2-19 (D) the guidelines and criteria established for
2-20 the zone under Section 311.005;
2-21 (2) a copy of each project plan or reinvestment zone
2-22 financing plan adopted; and
2-23 (3) any other information required by the comptroller
2-24 to administer this section and Subchapter F, Chapter 111.
2-25 (c) A municipality that amends or modifies a project plan or
2-26 reinvestment zone financing plan adopted under this chapter shall
2-27 deliver a copy of the amendment or modification to the comptroller
3-1 before April 1 of the year following the year in which the plan was
3-2 amended or modified.
3-3 (d) Not later than April 1, 2002, each municipality that
3-4 designated a reinvestment zone or approved a project plan or
3-5 reinvestment zone financing plan under this chapter before January
3-6 1, 2001, shall deliver to the comptroller a report containing the
3-7 information described by Subsection (b) for each zone or plan.
3-8 This subsection expires January 1, 2003.
3-9 Sec. 311.020. STATE ASSISTANCE. (a) On request of the
3-10 governing body of a municipality or of the presiding officer of the
3-11 governing body, the comptroller may provide assistance to a
3-12 municipality relating to the administration of this chapter.
3-13 (b) The Texas Department of Economic Development and the
3-14 comptroller may provide technical assistance to a municipality
3-15 regarding:
3-16 (1) the designation of reinvestment zones under this
3-17 chapter; and
3-18 (2) the adoption and execution of project plans or
3-19 reinvestment zone financing plans under this chapter.
3-20 SECTION 5. This Act takes effect immediately.