Honorable Harvey Hilderbran, Chair, House Committee on Ways & Means
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB3589 by Gutierrez (relating to the use of tax increment financing by certain municipalities.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
This bill would amend Chapter 311, Tax Code (the Tax Increment Financing Act).
Section 311.0087 would be amended to change the county population limitation from 1.5 million to 2.2 million or less and to impose additional conditions on a subject municipality with respect to a reinvestment zone or a development agreement, interlocal ageement, or project plan related to a reinvestment zone.
The bill would take immediate effect if it receives a vote of two-thirds of all members elected to each house of the legislature, otherwise it would take effect September 1, 2013.
Local Government Impact
The bill appears to affect only the City of San Antonio.The fiscal implications for that city cannot be determined.