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Proposing a constitutional amendment authorizing a county to finance the development or redevelopment of transportation or infrastructure in unproductive, underdeveloped, or blighted areas in the county; authorizing the issuance of bonds and notes.
No fiscal implication to the State is anticipated, other than the cost of publication.
The cost to the state for publication of the resolution is $178,333.
HJR 99 proposes a constitutional amendment to allow counties to authorize the issuance of bonds or notes "to finance the development or redevelopment of an unproductive, underdeveloped, or blighted area within the county" and to pledge for repayment of those bonds or notes increases in property tax revenues imposed on property in the area by the county.
Texas Action opposes HJR 99 which is inconsistent with limited government, private property rights, and free markets. HJR 99 would allow counties to finance projects for economic development which is outside of the proper role of government. One unintended consequence of giving counties this power may be an increase in the use of eminent domain in order to repurpose land for economic development purposes.