Honorable Chris Harris, Chair, Senate Committee on Economic Development
FROM:
John S. O'Brien, Director, Legislative Budget Board
IN RE:
SB1105 by Duncan (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
No fiscal implication to the State is anticipated.
The bill would amend the tax code to authorize an extension to the termination date of a reinvestment zone in a certain municipality. Based on the population criteria within the bill and on data from the U.S. Census Bureau, the bill would apply only to the City of Lubbock.
Local Government Impact
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.