Honorable Joseph Pickett, Chair, House Committee on Transportation
FROM:
John S. O'Brien, Director, Legislative Budget Board
IN RE:
SB2378 by Nichols (Relating to the purposes and designation of a transportation reinvestment zone.), Committee Report 2nd House, Substituted
No fiscal implication to the State is anticipated.
The bill would amend Chapter 222 of the Transportation Code regarding use of taxes collected on property in a municipal transportation reinvestment zone and in a county transportation zone and deposited into a tax increment account. The bill also would change the criteria for which municipalities and counties would be authorized to create a transportation reinvestment zone.
Local Government Impact
The fiscal impact of implementing the proposed requirements for use of tax increments in a transportation reinvestment zone would vary depending on the projects to be funded. Regarding change in eligibility to create a transportation reinvestment zone, based on information provided by the Texas Association of Counties and the Texas Municipal League, it is assumed that a municipality or a county would designate a transportation reinvestment zone and undertake a transportation project only if there were sufficient resources available or the net fiscal impact would be positive.
Source Agencies:
601 Department of Transportation, 304 Comptroller of Public Accounts