Honorable Robert Talton, Chair, House Committee on Urban Affairs
FROM:
John Keel, Director, Legislative Budget Board
IN RE:
HB2720 by Coleman (Relating to the requirement that a portion of the tax increment of certain tax increment reinvestment zones be used to provide affordable housing.), As Introduced
No fiscal implication to the State is anticipated.
The provisions of the bill would restrict the types of affordable housing provided by a tax increment reinvestment zone in Harris County. Current law requires a project plan for a tax increment reinvestment zone in Harris County to use at least one-third of the tax increment to provide affordable housing.
Local Government Impact
The bill may change the affordable housing projects which are funded with the tax increment of the reinvestment zone. However, no fiscal implication to units of local government is anticipated.
Source Agencies:
304 Comptroller of Public Accounts, 332 Department of Housing and Community Affairs