1-1     By:  Allen (Senate Sponsor - West)                    H.B. No. 2682
 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     Education; May 11, 2001, reported favorably by the following vote:
 1-5     Yeas 7, Nays 0; May 11, 2001, sent to printer.)
 1-6                            A BILL TO BE ENTITLED
 1-7                                   AN ACT
 1-8     relating to the authority of certain municipalities to dedicate tax
 1-9     revenue from certain reinvestment zones.
1-10           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-11           SECTION 1. Chapter 311, Tax Code, is amended by adding
1-12     Section 311.0085 to read as follows:
1-13           Sec. 311.0085.  POWER OF CERTAIN MUNICIPALITIES. (a)  This
1-14     section applies only to a municipality that has:
1-15                 (1)  territory in three counties; and
1-16                 (2)  a population of less than 120,000.
1-17           (b)  In this section, "educational facility" has the meaning
1-18     assigned by Section 311.008.
1-19           (c)  In addition to exercising the powers described by
1-20     Section 311.008, a municipality may enter into a new agreement, or
1-21     amend an existing agreement, with a school district that is located
1-22     in whole or in part in a reinvestment zone created by the
1-23     municipality to dedicate revenue from the tax increment fund to the
1-24     school district for acquiring, constructing, or reconstructing an
1-25     educational facility located in or outside of the zone.
1-26           SECTION 2.  This Act takes effect immediately if it receives
1-27     a vote of two-thirds of all the members elected to each house, as
1-28     provided by Section 39, Article III, Texas Constitution.  If this
1-29     Act does not receive the vote necessary for immediate effect, this
1-30     Act takes effect September 1, 2001.
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