Bill Text: TX HB4473 | 2023-2024 | 88th Legislature | Introduced


Bill Title: Relating to the calculation of ad valorem tax rates by certain taxing units that participate in one or more reinvestment zones for tax increment financing.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2023-03-21 - Referred to Ways & Means [HB4473 Detail]

Download: Texas-2023-HB4473-Introduced.html
  88R2082 CJC-D
 
  By: Harris of Anderson H.B. No. 4473
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the calculation of ad valorem tax rates by certain
  taxing units that participate in one or more reinvestment zones for
  tax increment financing.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 26.03, Tax Code, is amended by adding
  Subsection (e) to read as follows:
         (e)  For a taxing unit in which a tax rate calculation for a
  tax year is affected by the application of this section, the
  adjustments to the value of property taxable by the unit and to the
  amount of taxes imposed or collected by the unit prescribed by this
  section shall be calculated separately for each reinvestment zone
  in which the taxing unit participates. The comptroller shall
  ensure that the tax rate calculation forms prescribed under Section
  5.07 provide for the calculations to be made in the manner required
  by this subsection.
         SECTION 2.  This Act takes effect immediately if it receives
  a vote of two-thirds of all the members elected to each house, as
  provided by Section 39, Article III, Texas Constitution.  If this
  Act does not receive the vote necessary for immediate effect, this
  Act takes effect September 1, 2023.
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