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A BILL TO BE ENTITLED
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AN ACT
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relating to the period for which a school district's participation |
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in certain tax increment financing reinvestment zones may be taken |
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into account in determining the total taxable value of property in |
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the school district. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 403.302, Government Code, is amended by |
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adding Subsection (e-2) to read as follows: |
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(e-2) This subsection applies only to a reinvestment zone |
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created by a municipality that has a population of 1.1 million or |
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more and is predominantly located in a county that has a population |
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of 1.8 million or less. Notwithstanding Subsection (e), if the |
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municipality adopts an ordinance designating a termination date for |
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the zone that is later than the termination date designated in the |
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ordinance creating the zone, the number of years for which the total |
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dollar amount may be deducted under Subsection (d)(4) is limited to |
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the duration of the zone as determined under Section 311.017, Tax |
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Code. |
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SECTION 2. This Act takes effect September 1, 2021. |