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A BILL TO BE ENTITLED
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AN ACT
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relating to the use of revenue in the tax increment fund for certain |
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tax increment financing reinvestment zones for the acquisition, |
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construction, or reconstruction of an educational facility. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 311, Tax Code, is amended by adding |
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Section 311.0086 to read as follows: |
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Sec. 311.0086. POWER OF MUNICIPALITIES AND COUNTIES IN |
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CERTAIN REINVESTMENT ZONES. (a) This section applies only to a |
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reinvestment zone: |
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(1) that was created by: |
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(A) a municipality after January 1, 2005; or |
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(B) a county after January 1, 2022; |
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(2) that is larger than 500 acres; |
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(3) that contains a tract of real property larger than |
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20 acres that was donated to a school district for the construction |
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of educational facilities to be owned by or on behalf of the school |
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district; and |
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(4) the board of directors of which has entered into a |
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written agreement with the governing body of the school district |
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requiring payment of all or part of the tax increment produced by |
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the school district into the tax increment fund for the zone. |
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(b) In addition to exercising the powers described by |
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Section 311.008, a municipality or county that created a |
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reinvestment zone to which this section applies or the board of |
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directors of a reinvestment zone to which this section applies may: |
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(1) enter into a new agreement or amend an existing |
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agreement with a school district located wholly or partly in the |
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zone to dedicate revenue from the tax increment fund for the zone to |
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the school district for acquiring, constructing, or reconstructing |
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an educational facility located in or outside of the zone; or |
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(2) contract with a school district located wholly or |
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partly in the zone to finance the construction of educational |
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facilities to be owned by or on behalf of the school district, |
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provided that the cost of the construction of the facilities and any |
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infrastructure serving the facilities is funded by the tax |
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increment generated by the school district. |
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SECTION 2. Section 48.253(a), Education Code, is amended to |
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read as follows: |
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(a) For each school year, a school district is entitled to |
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state aid in an amount equal to the amount the district is required |
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to pay into the tax increment fund for a reinvestment zone under |
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Section 311.0086 or 311.013(n), Tax Code. |
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SECTION 3. The change in law made by this Act to Section |
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48.253, Education Code, applies beginning with the 2025-2026 school |
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year. |
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SECTION 4. 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. |