1-1 By: Maxey (Senate Sponsor - Duncan) H.B. No. 612
1-2 (In the Senate - Received from the House April 2, 2001;
1-3 April 3, 2001, read first time and referred to Committee on
1-4 Business and Commerce; May 11, 2001, reported favorably by the
1-5 following vote: Yeas 6, Nays 0; May 11, 2001, sent to printer.)
1-6 A BILL TO BE ENTITLED
1-7 AN ACT
1-8 relating to the preparation and submission of certain reports by
1-9 municipalities and the comptroller of public accounts under the Tax
1-10 Increment Financing Act.
1-11 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-12 SECTION 1. The heading of Section 311.016, Tax Code, is
1-13 amended to read as follows:
1-14 Sec. 311.016. ANNUAL REPORT BY MUNICIPALITY.
1-15 SECTION 2. Section 311.016(b), Tax Code, is amended to read
1-16 as follows:
1-17 (b) The municipality shall send a [A] copy of a report made
1-18 under this section [shall be sent] to:
1-19 (1) the attorney general; and
1-20 (2) the comptroller.
1-21 SECTION 3. Chapter 311, Tax Code, is amended by adding
1-22 Section 311.0163 to read as follows:
1-23 Sec. 311.0163. ANNUAL REPORT BY COMPTROLLER. (a) Not later
1-24 than December 31 of each even-numbered year, the comptroller shall
1-25 submit a report to the legislature and to the governor on
1-26 reinvestment zones designated under this chapter and on project
1-27 plans and reinvestment zone financing plans adopted under this
1-28 chapter.
1-29 (b) A report submitted under this section must include, for
1-30 each reinvestment zone designated under this chapter, a summary of
1-31 the information reported under Section 311.016.
1-32 SECTION 4. Chapter 311, Tax Code, is amended by adding
1-33 Sections 311.019 and 311.020 to read as follows:
1-34 Sec. 311.019. CENTRAL REGISTRY. (a) The comptroller shall
1-35 maintain a central registry of:
1-36 (1) reinvestment zones designated under this chapter;
1-37 (2) project plans and reinvestment zone financing
1-38 plans adopted under this chapter; and
1-39 (3) annual reports submitted under Section 311.016.
1-40 (b) A municipality that designates a reinvestment zone or
1-41 approves a project plan or reinvestment zone financing plan under
1-42 this chapter shall deliver to the comptroller before April 1 of the
1-43 year following the year in which the zone is designated or the plan
1-44 is approved a report containing:
1-45 (1) a general description of each zone, including:
1-46 (A) the size of the zone;
1-47 (B) the types of property located in the zone;
1-48 (C) the duration of the zone; and
1-49 (D) the guidelines and criteria established for
1-50 the zone under Section 311.005;
1-51 (2) a copy of each project plan or reinvestment zone
1-52 financing plan adopted; and
1-53 (3) any other information required by the comptroller
1-54 to administer this section and Subchapter F, Chapter 111.
1-55 (c) A municipality that amends or modifies a project plan or
1-56 reinvestment zone financing plan adopted under this chapter shall
1-57 deliver a copy of the amendment or modification to the comptroller
1-58 before April 1 of the year following the year in which the plan was
1-59 amended or modified.
1-60 (d) Not later than April 1, 2002, each municipality that
1-61 designated a reinvestment zone or approved a project plan or
1-62 reinvestment zone financing plan under this chapter before January
1-63 1, 2001, shall deliver to the comptroller a report containing the
1-64 information described by Subsection (b) for each zone or plan.
2-1 This subsection expires January 1, 2003.
2-2 Sec. 311.020. STATE ASSISTANCE. (a) On request of the
2-3 governing body of a municipality or of the presiding officer of the
2-4 governing body, the comptroller may provide assistance to a
2-5 municipality relating to the administration of this chapter.
2-6 (b) The Texas Department of Economic Development and the
2-7 comptroller may provide technical assistance to a municipality
2-8 regarding:
2-9 (1) the designation of reinvestment zones under this
2-10 chapter; and
2-11 (2) the adoption and execution of project plans or
2-12 reinvestment zone financing plans under this chapter.
2-13 SECTION 5. This Act takes effect immediately.
2-14 * * * * *