| TO: | Honorable Rene Oliveira, Chair, House Committee on Ways & Means |
| FROM: | John S. O'Brien, Director, Legislative Budget Board |
| IN RE: | HB1237 by Miklos (Relating to the authority of certain municipalities to extend the termination date for a reinvestment zone created under the Tax Increment Financing Act.), As Introduced |
The bill would authorize certain municipalities that created a reinvestment zone under the Tax Increment Financing Act to designate a termination date for the zone that is later than the termination date designated in the ordinance that created the zone, but not later than the 20th anniversary of the creation date.
The bill would affect reinvestment zones created by cities in Dallas County. The extension of a reinvestment zone would affect the use of taxes collected, but not the amount.
Based on the applicability criteria, the bill would apply only to a reinvestment zone located in the City of Dallas.
Because the bill would not have statewide impact on units of local government of the same type or class, no comment from this office is required by the rules of the House/Senate as to its probable fiscal implication on units of local government.| Source Agencies: | 304 Comptroller of Public Accounts
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| LBB Staff: | JOB, MN, SD, DB
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