Honorable Carol Alvarado, Chair, House Committee on Urban Affairs
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB4046 by Bohac (Relating to the election of members of the boards of directors of certain tax increment reinvestment zones.), As Introduced
No fiscal implication to the State is anticipated.
The bill would amend the Tax Code relating to the election of members to the board of directors of certain tax increment reinvestment zones.
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
According to the City of Houston, Houston has 27 Tax Reinvestment Zones. The bill would require an election in each zone every two years. Houston would have to translate the ballots into three additional languages. If no other governmental entity was holding an election the sole cost would rest on the city. The last General Election cost sharing with other governmental agencies was $1 million plus any advertising and translation costs.