79S30046 JD-F
By: Barrientos, Wentworth S.B. No. 19
A BILL TO BE ENTITLED
AN ACT
relating to the financing of certain intermunicipal commuter rail
district transportation infrastructure.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 8(d), Article 6550c-1, Revised Statutes,
is amended to read as follows:
(d) The agreement may establish one or more transportation
infrastructure zones. The district and the local government may
agree that, at one or more specified times, the local government
will pay to the district an amount that is calculated on the basis
of increased ad valorem tax collections in a zone that are
attributable to increased values of property located in the zone
resulting from an infrastructure project. The amount may not
exceed an amount that is equal to the percentage [30 percent] of the
increase in ad valorem tax collections for the specified period
agreed to by the district and local government, which must be
included in the agreement.
SECTION 2. 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, 2006.