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A BILL TO BE ENTITLED
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AN ACT
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relating to a study of economic development incentives provided to |
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businesses and members of the public by certain political |
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subdivisions. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. (a) The comptroller of public accounts shall |
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conduct a study to identify the types of economic development |
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incentives and the costs of those incentives provided to businesses |
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and members of the public by the following political subdivisions |
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during the 2018-2019 fiscal year of the political subdivision, |
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including incentives designed to attract a business prospect to |
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locate, stay, or expand in the political subdivision: |
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(1) a county with a population of more than 700,000 and |
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less than 775,000 according to the most recent federal decennial |
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census; and |
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(2) each municipality located in a county described by |
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Subdivision (1) of this subsection. |
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(b) In conducting the study, the comptroller shall, for the |
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period described by Subsection (a) of this section: |
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(1) identify each tax incentive, including each tax |
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abatement, credit, discount, exemption, or special valuation |
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provided to a business or member of the public by each political |
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subdivision for economic development purposes; |
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(2) identify each grant, loan, or other direct |
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expenditure provided to a business or member of the public by each |
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political subdivision for economic development purposes; and |
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(3) determine the total cost of the economic |
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development incentives identified in Subdivisions (1) and (2) of |
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this subsection for each political subdivision. |
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(c) Not later than June 1, 2020, the comptroller shall |
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prepare and submit to the governor, lieutenant governor, and |
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speaker of the house of representatives a written report containing |
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the results of the study and any recommendations for legislative or |
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other action. |
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(d) This Act expires January 1, 2021. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2019. |