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A BILL TO BE ENTITLED
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AN ACT
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relating to the eligibility of property located in more than one |
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school district for a limitation on appraised value for school |
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district maintenance and operations ad valorem tax purposes under |
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the Texas Economic Development Act. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter B, Chapter 313, Tax Code, is amended |
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by adding Section 313.0255 to read as follows: |
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Sec. 313.0255. PROJECT LOCATED IN MORE THAN ONE SCHOOL |
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DISTRICT. (a) This section applies only to a single unified project |
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that is located in more than one school district, each of which is |
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contiguous to another school district in which the project is |
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located and at least one of which is a school district to which this |
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subchapter applies. |
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(b) Except as otherwise provided by this section, the |
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provisions of this subchapter applicable to a project that is |
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located in only one school district apply to a project to which this |
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section applies, including the provisions governing the |
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application and approval process. |
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(c) For purposes of determining the required minimum amount |
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of a qualified investment under Section 313.021(2)(A)(iv)(a) and |
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the minimum amount of a limitation on appraised value under Section |
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313.027(b), a project is considered to be located in the school |
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district in which the project is located that has the highest |
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taxable value of property for the preceding tax year determined |
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under Subchapter M, Chapter 403, Government Code. |
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(d) The minimum amount of the limitation on appraised value |
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to which a school district may agree under Section 313.027(b) is |
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equal to the amount specified by that subsection for the applicable |
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category of school district as determined in accordance with |
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Subsection (c) of this section multiplied by a fraction the |
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numerator of which is the amount of qualified investment made in the |
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school district in connection with the project and the denominator |
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of which is the total amount of qualified investment made in |
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connection with the project in each school district in which the |
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project is located. |
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(e) In determining whether property on which a project is |
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located meets the requirements of Section 313.024 for eligibility |
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for a limitation on appraised value under this subchapter, the |
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comptroller shall consider whether the project as a whole would |
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meet those requirements were the project located in a single school |
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district. |
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SECTION 2. Subchapter C, Chapter 313, Tax Code, is amended |
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by adding Section 313.055 to read as follows: |
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Sec. 313.055. PROJECT LOCATED IN MORE THAN ONE SCHOOL |
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DISTRICT. Section 313.0255 applies to a project located in more |
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than one school district each of which is a school district to which |
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this subchapter applies in the same manner as that section applies |
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to a project located in more than one school district at least one |
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of which is a school district to which Subchapter B applies, except |
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that for purposes of Section 313.0255(c) the project is considered |
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to be located in the school district that has the highest taxable |
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value of industrial property for the preceding tax year determined |
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under Subchapter M, Chapter 403, Government Code. |
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SECTION 3. This Act applies only to an application filed |
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under Chapter 313, Tax Code, on or after the effective date of this |
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Act. An application filed under that chapter before the effective |
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date of this Act is governed by the law in effect on the date the |
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application was filed, and the former law is continued in effect for |
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that purpose. |
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SECTION 4. This Act takes effect September 1, 2015. |