81R7879 SMH-F
 
  By: Hancock H.B. No. 3222
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the authority of two or more municipalities to
  designate a joint tax increment financing reinvestment zone.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Chapter 311, Tax Code, is amended by adding
  Section 311.0035 to read as follows:
         Sec. 311.0035.  PROCEDURE FOR DESIGNATING JOINT
  REINVESTMENT ZONE. (a) The governing bodies of two or more
  municipalities by ordinance adopted by each municipality may
  designate a contiguous area in the jurisdiction of each of the
  municipalities to be a joint reinvestment zone. Except as
  otherwise provided by this section, each of the municipalities must
  follow the procedures provided by Section 311.003 to designate an
  area as a joint reinvestment zone. The ordinances adopted by all of
  the municipalities designating an area as a joint reinvestment zone
  must contain the same terms and must:
               (1)  describe the boundaries of the zone with
  sufficient definiteness to identify with ordinary and reasonable
  certainty the territory included in the zone;
               (2)  create a board of directors for the zone and
  specify:
                     (A)  the number of directors;
                     (B)  the qualifications of directors;
                     (C)  the manner in which directors are appointed;
                     (D)  the terms of directors;
                     (E)  the manner in which vacancies on the board
  are filled; and
                     (F)  the manner by which officers of the board are
  selected;
               (3)  provide that the zone takes effect immediately on
  adoption of the ordinance by the last of the municipalities in the
  jurisdiction of which the area contained in the zone is located;
               (4)  provide a termination date for the zone;
               (5)  assign a name to the zone for identification
  purposes, which may include the name of one or more of the
  designating municipalities and may contain a number;
               (6)  establish a tax increment fund for the zone; and
               (7)  contain findings that:
                     (A)  improvements in the zone will significantly
  enhance the value of all taxable real property in the zone and will
  be of general benefit to the municipalities; and
                     (B)  the area meets the requirements of Sections
  311.005(a)(1) and (2) and (a-1).
         (b)  For purposes of complying with Subsection (a)(7)(A),
  the ordinances are not required to identify the specific parcels of
  real property to be enhanced in value.
         (c)  The restrictions applicable to other reinvestment zones
  under Section 311.006 apply to a joint reinvestment zone designated
  under this section.
         (d)  The boundaries of a joint reinvestment zone may be
  enlarged or reduced by ordinance of the governing bodies of the
  municipalities that designated the zone, subject to the
  restrictions contained in this section.
         (e)  The municipalities designating a joint reinvestment
  zone may exercise any power necessary and convenient to carry out
  this section and the other provisions of this chapter, including
  the powers listed in Section 311.008.
         (f)  Except as otherwise provided by this section, the board
  of directors of a joint reinvestment zone has the same powers and
  duties and is subject to the same limitations as the board of
  directors of a reinvestment zone designated by a single
  municipality. Sections 311.011, 311.012, 311.0123, 311.013,
  311.014, 311.015, 311.016, 311.0163, and 311.018 apply to the
  municipalities designating a joint reinvestment zone, except that a
  reference in those sections to a municipality means all of the
  municipalities designating a joint reinvestment zone and an action
  required of a municipality under those sections is considered to be
  required of all of the municipalities designating a joint
  reinvestment zone.
         (g)  Expenditures from tax increment financing funds or
  bonds secured by tax increment financing may be made without regard
  to the location from which the funds were derived or the location
  within the joint reinvestment zone at which the funds are spent, but
  only if those expenditures are authorized as required by this
  chapter.
         SECTION 2.  This 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 this
  Act does not receive the vote necessary for immediate effect, this
  Act takes effect September 1, 2009.