| TO: | Honorable Frank Madla, Chair, Senate Committee on Intergovernmental Relations |
| FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
| IN RE: | SB583 by Wentworth (Relating to the authority of a municipality to establish economic development programs in certain areas.), As Introduced |
The bill would authorize a governing body of a municipality to include an area annexed for limited purposes or an area in the extraterritorial jurisdiction as part of an area where economic development programs may be established. The bill would take effect immediately if it receives the required two-thirds vote in each house; otherwise, it would take effect September 1, 2005.
Expanding the area in which a municipality may include an economic development program would have a positive fiscal impact on the municipality. The fiscal impact would vary by municipality and would depend on the program implemented.
| Source Agencies: |
| LBB Staff: | JOB, DLBa
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