LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 80TH LEGISLATIVE REGULAR SESSION

April 24, 2007

TO:	Honorable Jim Keffer, Chair, House Committee on Ways & Means
FROM:	John S. O'Brien, Director, Legislative Budget Board
IN RE:	HB3957 by Castro (Relating to extending the termination of a reinvestment zone created under the Tax Increment Financing Act.), As Introduced

No fiscal implication to the State is anticipated.

The bill would amend Chapter 311 of the Tax Code to permit the board of directors of a reinvestment zone to hold a public hearing and adopt an amendment to a project plan that extends the date for termination of the zone; however the amendment to the project plan would not take effect until approved by the governing body of the county or the municipality that created the zone.

The bill would take effect immediately upon enactment if it receives two-thirds vote in each house; otherwise, it would take effect September 1, 2007.

Local Government Impact

According to the Comptroller of Public Accounts, the fiscal impact on units of local government cannot be estimated because it is unknown which, if any, boards of directors of reinvestment zones would adopt an amendment to extend the date of termination of a zone, and which, if any, governing bodies of a county or municipality that created a reinvestment zone might approve an amendment.

Source Agencies:

304 Comptroller of Public Accounts

LBB Staff:

JOB, CT, SD, EB