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By: Hill (Senate Sponsor - Shapiro) |
H.B. No. 2092 |
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(In the Senate - Received from the House April 30, 2007; |
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May 2, 2007, read first time and referred to Subcommittee on |
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Emerging Technologies and Economic Development; May 17, 2007, |
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reported favorably from Committee on Business and Commerce by the |
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following vote: Yeas 9, Nays 0; May 17, 2007, sent to printer.) |
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A BILL TO BE ENTITLED
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AN ACT
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relating to the designation of an area in a municipality as a |
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reinvestment zone under the Tax Increment Financing Act. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 311.005, Tax Code, is amended by adding |
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Subsection (a-1) to read as follows: |
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(a-1) Notwithstanding Subsection (a), if the proposed |
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project plan for a potential zone includes the use of land in the |
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zone in connection with the operation of an existing or proposed |
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regional commuter or mass transit rail system, or for a structure or |
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facility that is necessary, useful, or beneficial to such a |
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regional rail system, the governing body of a municipality may |
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designate an area as a reinvestment zone. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2007. |
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* * * * * |