BILL ANALYSIS
Senate Research Center S.B. 771
AUTHOR'S/SPONSOR'S STATEMENT OF INTENT
Areas in a municipality that arrest, impair, or retard the sound growth of the municipality are injurious to the public health, safety, morals, and welfare of its residents.
As proposed, S.B. 771 authorizes the designation of a municipal area as a reinvestment zone for the purpose of addressing a substantial number of substandard, slum, deteriorated, or deteriorating structures.
RULEMAKING AUTHORITY
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Section 311.005(a), Tax Code, to include the presence of structures, other than single-family residential structures, that have been substantially vacant or underused for at least five years, among those conditions under which an area may be designated as a reinvestment zone.
SECTION 2. Amends Section 311.008, Tax Code, by adding Subsection (e) to specify that the implementation of a project plan to alleviate certain conditions and to promote development or redevelopment of a reinvestment zone in accordance with this chapter serves a public purpose.
SECTION 3. Effective date: upon passage or September 1, 2005.