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Relating to the creation of the Oak Farms Municipal Management District; providing authority to issue bonds; providing authority to impose assessments, fees, and taxes.
No significant fiscal implication to the State is anticipated.
HB 4733 would create the Oak Farms Municipal Management District in Dallas, Texas. Among other things, the purpose of the district is to "promote, develop, encourage, and maintain employment, commerce, transportation, affordable housing, tourism, recreation, the arts, entertainment, economic development, safety, and the public welfare in the district."
Texas Action recommends opposing HB 4733 because it infringes upon limited government and free market principles. We have consistently opposed any creation or expansion of economic development powers for municipal management districts. Chapter 380 economic development provides broad authority to these districts in determining whether public money should be spent for anything that may constitute a "public purpose." This money is then used to unfairly favor certain businesses and industries over others, effectively allowing the government to choose winners and losers in the marketplace.