AUTHOR'S / SPONSOR'S STATEMENT OF INTENT

 

Downtown Laredo is in need of revitalization to attract more tourism and business activity. Due to an ailing economy and drug-related violence across the border in Nuevo Laredo, Laredo's downtown has seen a decline in economic activity.

 

A municipal management district (MMD) would assist the city by levying taxes and issuing bonds to repair streets, curbs, and rejuvenate downtown Laredo for tourism and promote economic development.

 

This legislation sets boundaries and limits for the MMD and authorizes it to pay for improvements within the boundaries of the MMD.

 

As proposed, S.B. 1601 amends current law relating to the creation of the Central Laredo Municipal Management District and provides authority to impose a tax, levy an assessment, impose a fee, and issue bonds.

 

RULEMAKING AUTHORITY

 

This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.

 

SECTION BY SECTION ANALYSIS

 

SECTION 1.  Amends Subtitle C, Title 4, Special District Local Laws Code, by adding Chapter 3862, as follows:

 

CHAPTER 3862.  CENTRAL LAREDO MUNICIPAL MANAGEMENT DISTRICT

 

Sets forth standard language for the creation of the Central Laredo Municipal Management District (district) in the City of Laredo.  Sets forth standards, procedures, requirements, and criteria for:

 

Creation, purpose, and approval of the district (Sections 3862.001-3862.008);

 

Size, composition, appointment, and terms of the board of directors, including the naming of the initial directors (Sections 3862.051-3862.062);

 

Powers and duties of the district (Sections 3862.101-3862.110);

 

General financial provisions and authority to impose a tax and to issue bonds and obligations for the district (Sections 3862.151-3862.204); and

 

Dissolution of the district (Sections 3862.251-3862.254). 

 

Prohibits the district from exercising the power of eminent domain. 

 

SECTION 2.  Sets forth the initial boundaries of the district.

 

SECTION 3.  Provides that all requirements of the constitution and the laws of this state and the rules and procedures of the legislature with respect to the notice, introduction, and passage of this Act are fulfilled and accomplished.

 

SECTION 4.  Effective date: upon passage or September 1, 2013.