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A BILL TO BE ENTITLED
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AN ACT
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relating to an election to reduce or increase the sales and use tax |
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rate imposed by a municipality for the benefit of a Type B |
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development corporation. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter F, Chapter 505, Local Government |
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Code, is amended by adding Section 505.2566 to read as follows: |
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Sec. 505.2566. ELECTION TO REDUCE OR INCREASE TAX RATE. (a) |
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An authorizing municipality that has imposed a sales and use tax |
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under this chapter may, in the same manner and by the same procedure |
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as the municipality imposed the tax, reduce or increase the tax rate |
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by a majority of the voters of the municipality voting at an |
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election held for that purpose. |
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(b) On petition of 10 percent or more of the registered |
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voters of the authorizing municipality requesting an election to |
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reduce or increase the tax rate under this chapter, the governing |
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body of the municipality shall order an election on the issue. |
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(c) The tax rate may be reduced or increased to any rate that |
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is an increment of one-eighth of one percent, that the authorizing |
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municipality determines is appropriate, and that would not result |
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in a combined rate that exceeds the maximum combined rate |
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prescribed by Section 505.256(a). |
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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, 2017. |