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A BILL TO BE ENTITLED
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AN ACT
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relating to the criteria for designation of an area as a |
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reinvestment zone for purposes of tax increment financing. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 311.005(a), Tax Code, is amended to read |
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as follows: |
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(a) To be designated as a reinvestment zone, an area must: |
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(1) substantially arrest or impair the sound growth of |
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the municipality or county designating the zone, retard the |
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provision of housing accommodations, or constitute an economic or |
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social liability and be a menace to the public health, safety, |
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morals, or welfare in its present condition and use because of the |
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presence of: |
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(A) a substantial number of substandard, slum, |
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deteriorated, or deteriorating structures; |
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(B) the predominance of defective or inadequate |
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sidewalk or street layout; |
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(C) faulty lot layout in relation to size, |
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adequacy, accessibility, or usefulness; |
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(D) unsanitary or unsafe conditions; |
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(E) the deterioration of site or other |
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improvements; |
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(F) tax or special assessment delinquency |
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exceeding the fair value of the land; |
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(G) defective or unusual conditions of title; |
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(H) conditions that endanger life or property by |
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fire or other cause; or |
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(I) structures, other than single-family |
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residential structures, less than 10 percent of the square footage |
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of which has been used for commercial, industrial, or residential |
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purposes during the preceding 12 years, if the municipality has a |
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population of 100,000 or more; |
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(2) be predominantly open or undeveloped and, because |
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of obsolete platting, deterioration of structures or site |
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improvements, or other factors, substantially impair or arrest the |
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sound growth of the municipality or county; |
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(3) be in a federally assisted new community located |
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in the municipality or county or in an area immediately adjacent to |
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a federally assisted new community; [or] |
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(4) be an area described in a petition requesting that |
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the area be designated as a reinvestment zone, if the petition is |
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submitted to the governing body of the municipality or county by the |
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owners of property constituting at least 50 percent of the |
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appraised value of the property in the area according to the most |
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recent certified appraisal roll for the county in which the area is |
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located; or |
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(5) be substantially undeveloped and be located in: |
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(A) a municipality with a population of less than |
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20,000; and |
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(B) a county with a population of more than |
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660,000 and less than 690,000 that borders a county with a |
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population of two million or more. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2013. |