Honorable Eddie Lucio, Jr., Chair, Senate Committee on Intergovernmental Relations
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB4290 by Thierry ( Relating to the creation of the Stadium Park Management District; providing authority to issue bonds; providing authority to impose assessments, fees, or taxes.), Committee Report 2nd House, Substituted
No fiscal implication to the State is anticipated.
The bill would amend the Special District Local Laws Code establishing the Stadium Park Management District. The district would have authority to engage in economic development activities. The district would have authority to impose and collect assessments. The district would have authority to impose an ad valorem tax on all taxable property and 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.