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A BILL TO BE ENTITLED
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AN ACT
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relating to homestead preservation districts and reinvestment |
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zones. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 373A.051(a), Local Government Code, is |
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amended to read as follows: |
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(a) To promote and expand the ownership and rental of |
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affordable housing and to prevent the involuntary loss of |
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homesteads by existing homeowners and renters living in the area, |
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the governing body of a municipality by ordinance may designate as a |
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homestead preservation district an area in the municipality that is |
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eligible under Section 373A.052. |
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SECTION 2. Section 373A.052(a), Local Government Code, is |
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amended to read as follows: |
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(a) To be designated as a district within a municipality |
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described by Section 373A.003(a) under this subchapter, an area |
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must be composed of census tracts forming a spatially compact area |
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[contiguous to a central business district and] with: |
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(1) fewer than 75,000 [25,000] residents; |
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(2) [fewer than 8,000 households;
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[(3)
a number of owner-occupied households that does
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not exceed 50 percent of the total households in the area;
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[(4)
housing stock at least 55 percent of which was
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built at least 45 years ago;
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[(5)
an unemployment rate that is greater than 10
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percent;
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[(6)] an overall poverty rate that is at least two |
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times the poverty rate for the entire municipality; and |
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(3) [(7)] in each census tract within the area, a |
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median family income that is less than 80 [60] percent of the median |
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family income for the entire municipality. |
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SECTION 3. Section 373A.152, Local Government Code, is |
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amended by adding Subsection (b) to read as follows: |
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(b) A county may participate in a homestead preservation |
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reinvestment zone established by a municipality under Subsection |
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(a) by adopting a final order: |
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(1) agreeing to the creation of the zone, the zone |
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boundaries, and the zone termination date specified by the |
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municipality under Section 373A.1521(1); and |
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(2) specifying an amount of tax increment to be |
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deposited by the county into the tax increment fund that is equal to |
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the amount of the tax increment specified by the municipality under |
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Section 373A.1521(3). |
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SECTION 4. Section 373A.1522, Local Government Code, is |
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amended to read as follows: |
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Sec. 373A.1522. EFFECTIVE DATE OF ZONE. The zone |
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designated by the ordinance adopted under Section 373A.1521 takes |
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effect on the date designated by the municipality in the ordinance |
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adopted under Section 373A.1521 [on which the county adopts a final
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order:
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[(1)
agreeing to the creation of the zone, the zone
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boundaries, and the zone termination date specified by the
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municipality under Section 373A.1521(1); and
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[(2)
specifying an amount of tax increment to be
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deposited by the county into the tax increment fund that is equal to
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the amount of the tax increment specified by the municipality under
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Section 373A.1521(3)]. |
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SECTION 5. Section 373A.155(b), Local Government Code, is |
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amended to read as follows: |
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(b) If a county elects to participate in a homestead |
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preservation reinvestment zone, the [The] county shall pay into the |
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tax increment fund for the zone an amount equal to the tax increment |
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paid by the municipality as specified in the order adopted under |
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Section 373A.152 [373A.1522]. |
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SECTION 6. Section 373A.158(a), Local Government Code, is |
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amended to read as follows: |
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(a) If a county elects to participate in a homestead |
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preservation reinvestment zone, the [The] county is the only taxing |
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unit entitled to receive the annual report prepared under Section |
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311.016(a), Tax Code. |
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SECTION 7. This Act takes effect September 1, 2013. |
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* * * * * |