Honorable Eddie Lucio, Jr., Chair, Senate Committee on Intergovernmental Relations
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB2744 by Hernandez (Relating to the creation of the Channelview Improvement District; providing authority to issue bonds; providing authority to impose fees and taxes.), As Engrossed
No fiscal implication to the State is anticipated.
The bill would amend the Special District Local Laws Code establishing the Channelview Improvement District. The district would have authority to establish economic development programs. The district would have authority to issue bonds, impose fees, and have authority to impose a sales and use tax. The district would not have authority to exercise the power of eminent domain.
The bill would take effect immediately if the bill receives a two-thirds vote in each house; otherwise, the bill would take effect September 1, 2017.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.