Honorable Jim Murphy, Chair, House Committee on Special Purpose Districts
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB4321 by Schofield (Relating to the creation of Harris County Improvement District No. 25; providing authority to levy an assessment, impose a tax, and issue bonds.), As Introduced
No fiscal implication to the State is anticipated.
The bill would amend the Special District Local Laws Code establishing the Harris County Improvement District No. 25. The district would have the authority to engage in economic development activities. The district would have authority to issue bonds and other obligations, without an election. If authorized by a majority of the district voters, the district may impose an operation and maintenance tax on taxable property under conditions specified by the provisions of the bill.
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.