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BILL ANALYSIS |
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By: Watson |
BACKGROUND AND PURPOSE
C.S.S.B 2526 creates Travis County Improvement District No. 1 (the “District”) as a political subdivision of the State of Texas to administer and provide funding for economic development projects and services in the District. The District is currently located in an unincorporated area within Travis County. The District will be a management district similar to those operating pursuant to Chapter 375, Local Government Code, and Title 4, Special Districts Code.
RULEMAKING AUTHORITY
This bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.
ANALYSIS
C.S.S.B. 2526 adds Chapter 3863 to Subtitle C, Title 4, Special District Local Laws Code, which creates the District and will govern the powers and duties of the District. The bill provides that the District has the general powers of a municipal management district under Chapter 375, Local Government Code, to the extent such provisions do not conflict with the Act. C.S.S.B. 2526 describes the governing body of the District and describes additional powers of the District, including, but not limited to, economic development powers of the District. C.S.S.B. 2526 prohibits the exercise of eminent domain by the District. C.S.S.B. 2526 authorizes the District to impose assessments, ad valorem taxes, sales and use taxes, hotel occupancy taxes, and to issue bonds and other obligations payable from any money of the District, subject to the approval of voters at an election held for such purposes. C.S.S.B. 2526 authorizes the District to construct and finance public parking facilities and to impose taxes for defined areas and designated property. C.S.S.B. 2526 describes the geographical boundaries of the District and makes legislative findings regarding the fulfillment of procedural requirements with respect to the notice, introduction, and passage of the Act.
EFFECTIVE DATE
The Act takes effect immediately if it receives a vote of two-thirds of all the members elected to each house, as provided by Section 39, Article III, Texas Constitution. If the Act does not receive the vote necessary for immediate effect, the Act will take effect on September 1, 2009.
COMPARISON OF ORIGINAL TO SUBSTITUTE
C.S.S.B. 2526 corrects typographical revisions to the boundaries of the district.