LEGISLATIVE BUDGET BOARD
Austin, Texas
 
FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION
 
April 2, 2017

TO:
Honorable Craig Estes, Chair, Senate Committee on Natural Resources & Economic Development
 
FROM:
Ursula Parks, Director, Legislative Budget Board
 
IN RE:
SB1465 by Taylor, Larry (Relating to the authority of certain ex officio members of the board of directors of a tax increment financing reinvestment zone to elect not to serve on the board.), As Introduced

No fiscal implication to the State is anticipated.

The bill relates to the authority of certain ex-officio members of the board of directors of a tax increment financing reinvestment zone to elect not to serve on the board.
 
The bill would amend Chapter 311 of the Tax Code, regarding the Tax Increment Financing Act, to add new Section 311.0092 to require that not later than January 31 of each odd-numbered year the board of directors of a reinvestment zone shall send to each member of the state Senate and state House of Representatives who are an ex-officio member of the zone's board a written notice by certified mail informing the state Senator or state Representative of the person's membership on the board.
 
Notwithstanding Section 311.009(b) or 311.0091(c) , a state Senator or state Representative may elect not to serve on the board or designate another person to serve in the member's place. If the state Senator or state Representative elects not to serve on the board or designate another person to in the member's place, the state Senator or state Representative shall notify the board in writing as soon as possible after receipt of the notice by certified mail and may not be counted as a member of the board for voting or quorum purposes.

To understand the potential impact of the bill on local governmental entities, the Comptroller's office contacted the City of Galveston. The City Attorney indicated that there would be no impact on the city resulting from this bill.
 
The bill takes effect on September 1, 2017.

Local Government Impact

No fiscal implication to units of local government is anticipated.


Source Agencies:
304 Comptroller of Public Accounts
LBB Staff:
UP, SZ, SD, SJS