Honorable Jim Murphy, Chair, House Committee on Special Purpose Districts
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB4271 by Hernandez (Relating to the creation of the East Houston Management District; providing authority to issue bonds; providing authority to impose assessments, fees, or taxes.), As Introduced
No fiscal implication to the State is anticipated.
The bill would amend the Special District Local Laws Code establishing the East Houston Management District. The district would have authority to engage in economic development activities. The district would not have authority to exercise the power of eminent domain. The district would have authority to impose an ad valorem tax on all taxable property in the district. The district would have authority to impose a sales and use tax. The district would have authority to issue bonds and other obligations.
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.