By: Kolkhorst S.B. No. 400

(In the Senate - Filed December 21, 2016; February 1, 2017, read first time and referred to Committee on Natural Resources & Economic Development; April 12, 2017, reported adversely, with favorable Committee Substitute by the following vote: Yeas 10, Nays 0; April 12, 2017, sent to printer.) Click here to see the committee vote

COMMITTEE SUBSTITUTE FOR S.B. No. 400 By: Burton

A BILL TO BE ENTITLED

AN ACT

relating to the verification of information provided to the comptroller and contained in reports on compliance with agreements under the Texas Economic Development Act.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. Section 313.032(c), Tax Code, is amended to read as follows:

(c) The portion of the report described by Subsection (a)(2) must be based on data certified to the comptroller by each recipient or former recipient of a limitation on appraised value under this chapter. The recipient or former recipient shall contract with an independent certified public accountant to verify the data certified to the comptroller. The data may be verified using information from any reliable source, including the Texas Workforce Commission and the chief appraiser of the applicable appraisal district.

SECTION 2. This Act takes effect September 1, 2017.

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