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A BILL TO BE ENTITLED
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AN ACT
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relating to the Property Redevelopment and Tax Abatement Act. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 312.002, Tax Code, is amended by adding |
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Subsections (c-1) and (c-2) to read as follows: |
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(c-1) Before the governing body of a taxing unit may adopt, |
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amend, repeal, or reauthorize guidelines and criteria, the body |
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must hold a public hearing regarding the proposed adoption, |
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amendment, repeal, or reauthorization at which members of the |
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public are given the opportunity to be heard. |
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(c-2) A taxing unit that maintains an Internet website shall |
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post the current version of the guidelines and criteria governing |
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tax abatement agreements adopted under this section on the website. |
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SECTION 2. Section 312.005, Tax Code, is amended by adding |
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Subsection (a-1) to read as follows: |
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(a-1) For each of the first three tax years following the |
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expiration of a tax abatement agreement executed under this |
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chapter, the chief appraiser shall deliver to the comptroller a |
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report containing the appraised value of the property that was the |
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subject of the agreement. |
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SECTION 3. Section 312.205(a), Tax Code, is amended to read |
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as follows: |
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(a) An agreement made under Section 312.204 or 312.211 must: |
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(1) list the kind, number, and location of all |
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proposed improvements of the property; |
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(2) provide access to and authorize inspection of the |
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property by municipal employees to ensure that the improvements or |
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repairs are made according to the specifications and conditions of |
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the agreement; |
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(3) limit the uses of the property consistent with the |
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general purpose of encouraging development or redevelopment of the |
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zone during the period that property tax exemptions are in effect; |
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(4) provide for recapturing property tax revenue lost |
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as a result of the agreement if the owner of the property fails to |
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make the improvements or repairs as provided by the agreement; |
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(5) contain each term agreed to by the owner of the |
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property; |
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(6) require the owner of the property to certify |
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annually to the governing body of each taxing unit that the owner is |
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in compliance with each applicable term of the agreement; [and] |
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(7) provide that the governing body of the |
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municipality may cancel or modify the agreement if the property |
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owner fails to comply with the agreement; and |
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(8) if the agreement provides for the creation of at |
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least 25 new jobs within the boundaries of the municipality, |
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contain a fiscal impact statement describing the potential costs |
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and benefits of the agreement to the municipality. |
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SECTION 4. Section 312.207, Tax Code, is amended by adding |
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Subsections (c) and (d) to read as follows: |
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(c) In addition to any other requirement of law, the public |
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notice of a meeting at which the governing body of a municipality |
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will consider the approval of a tax abatement agreement with a |
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property owner must contain: |
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(1) the name of the property owner; |
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(2) the name and location of the reinvestment zone in |
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which the property subject to the agreement is located; |
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(3) a general description of the nature of the |
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improvements or repairs included in the agreement; and |
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(4) the estimated cost of the improvements or repairs. |
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(d) The notice of a meeting required by this section must be |
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given in the manner required by Chapter 551, Government Code, |
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except that the notice must be provided at least 30 days before the |
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scheduled time of the meeting. |
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SECTION 5. Subchapter C, Chapter 312, Tax Code, is amended |
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by adding Section 312.404 to read as follows: |
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Sec. 312.404. APPROVAL BY COMMISSIONERS COURT. To be |
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effective, an agreement made under this subchapter must be approved |
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by the commissioners court in the manner that the governing body of |
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a municipality authorizes an agreement under Section 312.207. |
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SECTION 6. Section 312.002(c-1), Tax Code, as added by this |
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Act, applies only to the adoption, amendment, repeal, or |
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reauthorization of guidelines and criteria under Section 312.002, |
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Tax Code, on or after the effective date of this Act. |
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SECTION 7. Section 312.005(a-1), Tax Code, as added by this |
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Act, applies only to a tax abatement agreement entered into under |
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Chapter 312 of that code that expires on or after the effective date |
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of this Act. |
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SECTION 8. Section 312.205(a), Tax Code, as amended by this |
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Act, and Sections 312.207(c) and (d) and 312.404, Tax Code, as added |
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by this Act, apply only to a tax abatement agreement entered into on |
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or after the effective date of this Act. |
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SECTION 9. This Act takes effect September 1, 2019. |