Honorable Garnet Coleman, Chair, House Committee on County Affairs
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB4049 by Turner (Relating to establishing an intergovernmental development corporation in certain counties to foster minority- or women-owned construction businesses.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Local Government Code to authorize the establishment of intergovernmental development corporations in certain counties to foster minority- or women-owned construction businesses. Establishes the policies and procedures for the operation of the authorized corporations and directs that the corporation be treated as a governmental body for certain open records and meetings laws. Exempts certain properties held by the corporation from certain provisions of the Tax Code.
According to the Comptroller of Public Accounts, the bill would have no fiscal impact on the state.
This bill would take effect immediately if it receives a vote of two-thirds of each house. Otherwise, the bill would take effect September 1, 2017.
Local Government Impact
According to Tarrant County, the bill would have no fiscal impact on the County.