BILL ANALYSIS
Senate Research Center S.B. 19
79S30046 JD-F By: Barrientos, Wentworth
Transportation and Homeland Security
AUTHOR'S/SPONSOR'S STATEMENT OF INTENT
Current statute limits the amount of increased ad valorem tax revenues within a transportation infrastructure zone which may be transferred from a taxing entity to the district to thirty percent of the increased collections. S.B. 19 provides the Austin-San Antonio Intermunicipal Commuter Rail District with increased flexibility to make use of one of its existing statutory financing options. As proposed, S.B. 19 removes the thirty percent cap on the amount of revenue from increased ad valorem tax collections within an agreed-to transportation infrastructure zone which a local taxing jurisdiction other than a school district can contract to pay to the rail district.
RULEMAKING AUTHORITY
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Section 8(d), Article 6550c-1, Revised Statutes, to prohibit any amount of revenue from increased ad valorem tax collection in a transportation infrastructure zone from exceeding an amount that is equal to the percentage of the increase in ad valorem tax collections for the specified period agreed to by the district and local government, which is required to be included in the agreement, rather than an amount equal to 30 percent of the increase in tax collections for the specified period.
SECTION 2. Effective date: upon passage or September 1, 2006.