1-1 By: Pitts (Senate Sponsor - Cain) H.B. No. 1468 1-2 (In the Senate - Received from the House May 11, 2001; 1-3 May 11, 2001, read first time and referred to Committee on 1-4 Intergovernmental Relations; May 11, 2001, reported favorably by 1-5 the following vote: Yeas 6, Nays 0; May 11, 2001, sent to 1-6 printer.) 1-7 A BILL TO BE ENTITLED 1-8 AN ACT 1-9 relating to the calculation of ad valorem tax rates for certain 1-10 taxing units. 1-11 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-12 SECTION 1. Chapter 26, Tax Code, is amended by adding Section 1-13 26.03 to read as follows: 1-14 Sec. 26.03. TREATMENT OF CAPTURED APPRAISED VALUE AND TAX 1-15 INCREMENT. (a) In this section, "captured appraised value," 1-16 "reinvestment zone," "tax increment," and "tax increment fund" have 1-17 the meanings assigned by Chapter 311. 1-18 (b) This section applies only to a taxing unit, other than a 1-19 school district, that is located in a county with a population of 1-20 less than 500,000. 1-21 (c) The portion of the captured appraised value of real 1-22 property taxable by a taxing unit that corresponds to the portion 1-23 of the tax increment of the unit from that property that the unit 1-24 has agreed to pay into the tax increment fund for a reinvestment 1-25 zone is excluded from the value of property taxable by the unit in 1-26 any tax rate calculation under this chapter. 1-27 (d) The portion of the tax increment of a taxing unit that 1-28 the unit has agreed to pay into the tax increment fund for a 1-29 reinvestment zone is excluded from the amount of taxes imposed or 1-30 collected by the unit in any tax rate calculation under this 1-31 chapter. 1-32 SECTION 2. (a) Except as provided by Subsection (b) of this 1-33 section, this Act applies to the tax rate calculations under 1-34 Chapter 26, Tax Code, for a taxing unit only for a tax year that 1-35 begins on or after the effective date of this Act. 1-36 (b) This Act applies to the tax rate calculations under 1-37 Chapter 26, Tax Code, for a taxing unit for the 2001 tax year if: 1-38 (1) the chief appraiser of the appraisal district in 1-39 which the unit participates certifies the appraisal roll for the 1-40 unit for that tax year to the assessor for the unit on or after the 1-41 effective date of this Act; or 1-42 (2) the governing body of the unit votes to apply 1-43 Section 26.03, Tax Code, as added by this Act, to the unit's tax 1-44 rate calculations under Chapter 26, Tax Code, for the 2001 tax 1-45 year. 1-46 SECTION 3. This Act takes effect immediately if it receives 1-47 a vote of two-thirds of all the members elected to each house, as 1-48 provided by Section 39, Article III, Texas Constitution. If this 1-49 Act does not receive the vote necessary for immediate effect, this 1-50 Act takes effect September 1, 2001. 1-51 * * * * *