Honorable Eddie Lucio, Jr., Chair, Senate Committee on Intergovernmental Relations
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
SB2276 by Creighton ( Relating to the creation of Lakewood Improvement District of Harris County; providing authority to issue bonds; providing authority to impose assessments, fees, or taxes.), Committee Report 1st House, Substituted
No fiscal implication to the State is anticipated.
The bill would amend the Special District Local Laws Code establishing the Lakewood Improvement District of Harris County. The district would have authority to engage in economic development activities. The district would have authority to issue bonds and other obligations, without an election. The district would have authority to impose an operation and maintenance tax, a contract tax, and, a sales and use tax. The district would not have authority to exercise the power of eminent domain.
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.