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By: Vasut, et al. (Senate Sponsor - Huffman) |
H.B. No. 2027 |
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(In the Senate - Received from the House April 23, 2025; |
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April 24, 2025, read first time and referred to Committee on |
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Economic Development; May 14, 2025, reported favorably by the |
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following vote: Yeas 5, Nays 0; May 14, 2025, sent to printer.) |
| Click here to see the committee vote |
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A BILL TO BE ENTITLED
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AN ACT
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relating to the authority of the Brazoria County Commissioners |
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Court to execute tax abatement agreements for property within the |
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Port Freeport district. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 5002.203, Special District Local Laws |
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Code, is amended to read as follows: |
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Sec. 5002.203. DESIGNATION OF REINVESTMENT ZONE. (a) |
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Notwithstanding Subchapters [Subchapter] B and C, Chapter 312, Tax |
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Code, the district may submit a written request to the |
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commissioners court of a county in which a property owned by the |
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district is located for the commissioners court to designate the |
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property as a reinvestment zone [or area] for the purposes of |
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Chapter 312, Tax Code. The commissioners court may designate the |
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property as a reinvestment zone [or area] if the commissioners |
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court finds the criteria set forth in Section 312.202, Tax Code, are |
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met for the property as if a municipality in which the property is |
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located were creating the zone. |
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(b) The commissioners court may execute a tax abatement |
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agreement with the owner of a leasehold interest in tax-exempt real |
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property or property owned by the district located in a |
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reinvestment zone designated under this subchapter to exempt all or |
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a portion of the value of the leasehold interest in the real |
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property. The court may execute a tax abatement agreement with the |
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owners of tangible personal property or an improvement located on |
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tax-exempt real property or property owned by the district that is |
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located in a reinvestment zone designated under this subchapter to |
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exempt all or a portion of the value of the tangible personal |
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property or improvement located on the real property. |
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(c) The other terms of an agreement entered into under this |
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section are governed by Chapter 312, Tax Code. |
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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, 2025. |
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