Honorable Rene Oliveira, Chair, House Committee on Ways & Means
FROM:
John S. O'Brien, Director, Legislative Budget Board
IN RE:
HB2316 by Villarreal (Relating to allowing certain tax units to impose a fee for processing a petition requesting that an area in the unit be designated as a tax increment financing reinvestment zone.), As Introduced
No fiscal implication to the State is anticipated.
The bill would amend Section 311.008 of the Tax Code to permit a municipality or county to impose a fee to review a project designated or proposed for a tax increment financing reinvestment zone. The fee imposed on petitioning property owners must be reasonably related to the estimated costs to the municipality or county for the review.
Local Government Impact
There would be a positive fiscal impact to the municipality or county that chooses to impose fees. The amount of the impact would depend on the amount of the fee and the number of property owners who petition for designation.