78R7716 DAK-D

By:  Turner                                                       H.B. No. 2516



A BILL TO BE ENTITLED

AN ACT

relating to repealing the refund of sales and franchise taxes to 
reimburse certain taxes paid on property in a reinvestment zone.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Subchapter F, Chapter 111, Tax Code, is 
repealed.                
	SECTION 2.  (a)  This Act takes effect immediately if it 
receives a vote of two-thirds of all the members elected to each 
house, as provided by Section 39, Article III, Texas Constitution.  
If this Act does not receive the vote necessary for immediate 
effect, this Act takes effect September 1, 2003.
	(b)  The change in law made by this Act applies to taxes paid 
on or after the effective date of this Act, without regard to 
whether an abatement agreement entered into before that date is in 
effect before, on, or after that date.  The change in law made by 
this Act does not affect the refund of taxes paid before the 
effective date of this Act, and the law in effect before the 
effective date of this Act is continued in effect for that purpose.