This website will be unavailable from Thursday, May 30, 2024 at 6:00 p.m. through Monday, June 3, 2024 at 7:00 a.m. due to data center maintenance.
Amend CSHB 1770 (Senate committee report) by adding the
following SECTIONS to the bill, appropriately numbered, and
renumbering the subsequent SECTIONS of the bill accordingly:
SECTION ____. Subsection (a), Section 311.006, Tax Code, is
amended to read as follows:
(a) A municipality may not create a reinvestment zone if:
(1) more than 10 percent of the property in the
proposed zone, excluding property that is publicly owned, is used
for residential purposes; or
(2) the total appraised value of taxable real property
in the proposed zone and in existing reinvestment zones exceeds:
(A) 20 percent of the total appraised value of
taxable real property in the municipality and in the industrial
districts created by the municipality, if the municipality is the
county seat of a county:
(i) that is adjacent to a county with a
population of 3.3 million or more; and
(ii) in which a planned community is
located that has 20,000 or more acres of land, that was originally
established under the Urban Growth and New Community Development
Act of 1970 (42 U.S.C. Section 4501 et seq.), and that is subject to
restrictive covenants containing ad valorem or annual variable
budget-based assessments on real property; or
(B) 15 percent of the total appraised value of
taxable real property in the municipality and in the industrial
districts created by the municipality, if Paragraph (A) does not
apply to the municipality.
SECTION ____. Section 311.006(a), Tax Code, as amended by
this Act, applies only to a reinvestment zone created on or after
the effective date of this Act. The creation of a reinvestment zone
before the effective date of this Act is covered by the law in
effect immediately before the effective date of this Act, and the
former law is continued in effect for that purpose.