Vote Recommendation | Economic Freedom | Property Rights | Personal Responsibility | Limited Government | Individual Liberty |
---|---|---|---|---|---|
Neutral | Neutral | Neutral | Neutral | Neutral | Neutral |
Relating to the period for which a school district’s participation in
certain tax increment financing reinvestment zones may be taken into account in
determining the total taxable value of property in the school district.
Passage of the bill would allow the deduction in the Property Value Study of certain tax
increment zone captured appraised value that is not currently deducted and could create a
cost to the state by reducing, in some school districts, the taxable value used in the state's
school funding formulas.
HB 2111 would allow the city of San Antonio to extend the termination date for a tax increment financing reinvestment zone in that city. The bill would also limit the number of years for which the total dollar amount of captured appraised property value may be deducted to be determined by the duration of the zone as extended by the city.
While we have reservations about tax increment financing reinvestment zones, which are antithetical to the principles of free markets and limited government, the zone affected by this legislation is already in existence and projects within that zone are ongoing. We do not have enough information at this time to determine how the on-time termination of this zone as provided by current statute, or the extension of this zone as proposed by HB 2111, would impact ongoing projects related to it. For these reasons we remain neutral.