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A BILL TO BE ENTITLED
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AN ACT
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relating to the authority of the commissioners court of a county to |
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enter into an ad valorem tax abatement agreement. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 312.402(a), Tax Code, is amended to read |
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as follows: |
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(a) The commissioners court may execute a tax abatement |
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agreement with the owner or lessee of taxable real property or the |
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owner of taxable tangible personal property, or both, located in a |
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reinvestment zone designated under this subchapter. The court may |
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execute a tax abatement agreement with the owner of a leasehold |
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interest in tax-exempt real property or leasehold interests or |
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improvements on tax-exempt real property that is located in a |
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reinvestment zone designated under this subchapter to exempt a |
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portion of the value of tangible personal property or leasehold |
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interests or improvements on tax-exempt real property located on |
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the real property. The execution, duration, and other terms of an |
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agreement made under this section are governed by the provisions of |
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Sections 312.204, 312.205, and 312.211 applicable to a |
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municipality. Section 312.2041 applies to an agreement made by a |
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county under this section in the same manner as it applies to an |
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agreement made by a municipality under Section 312.204 or 312.211. |
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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, 2009. |