Bill: HB 1626, 85(R) - 2017

Bill Caption

Relating to the authority of a taxing unit other than a school district to enter into a tax abatement agreement with an owner of real property in a tax increment financing reinvestment zone.

Fiscal Notes

No fiscal implication to the State is anticipated.

Bill Analysis

Under current law, any taxing unit other than a school district may enter into a tax abatement agreement with an owner of property located in a reinvestment zone. Agreements must be approved by a board of directors of a reinvestment zone and the governing body of a taxing unit.

 

HB 1626 amends Tax Code relating to the approval of tax abatement agreements with special property tax provisions in the tax increment financing act. The bill would exempt agreements from being approved by either board if the taxing unit does not deposit any tax increment into the tax increment fund.

Vote Recommendation Notes

The authority to make changes to tax abatement agreements is within the legitimate responsibility of the government, the provisions of this bill do not appear to have a connection to our liberty principles. Therefore, we remain neutral on HB 1626.

Source URL (retrieved on 04/18/2024 04:04 PM): http://reports.texasaction.com/bill/85r/hb1626?print_view=true