Bill Text: TX HB1674 | 2017-2018 | 85th Legislature | Introduced


Bill Title: Relating to the Texas Economic Development Act.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2017-03-06 - Referred to Ways & Means [HB1674 Detail]

Download: Texas-2017-HB1674-Introduced.html
  85R1859 SMH-D
 
  By: Murphy H.B. No. 1674
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the Texas Economic Development Act.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter B, Chapter 313, Tax Code, is amended
  by adding Section 313.0255 to read as follows:
         Sec. 313.0255.  PROJECT LOCATED IN MULTIPLE SCHOOL
  DISTRICTS. (a) This section applies only to a single unified
  project that is located in more than one but not more than three
  school districts, each of which is contiguous to another school
  district in which the project is located and at least one of which
  is a school district to which this subchapter applies.
         (b)  Except as otherwise provided by this section, the
  provisions of this subchapter applicable to a project that is
  located in only one school district apply to a project to which this
  section applies, including the provisions governing the
  application and approval process. This section does not affect the
  requirement that each school district from which the applicant
  desires a limitation on appraised value of the applicant's property
  for school district maintenance and operations ad valorem tax
  purposes enter into an agreement with the applicant under Section
  313.027 in order for the applicant to receive a limitation from that
  school district. Except as otherwise provided by this section, this
  section does not affect the terms of an agreement between the
  applicant and a school district under Section 313.027 as prescribed
  by that section.
         (c)  For purposes of determining the required minimum amount
  of a qualified investment under Section 313.021(2)(A)(iv)(a) and
  the minimum amount of a limitation on appraised value under Section
  313.027(b), a project is considered to be located in the school
  district in which the project is located that has the highest
  taxable value of property for the preceding tax year as determined
  under Subchapter M, Chapter 403, Government Code.
         (d)  The minimum amount of the limitation on appraised value
  to which a school district may agree under Section 313.027(b) is
  equal to the amount specified by that subsection for the applicable
  category of school district as determined in accordance with
  Subsection (c) of this section multiplied by a fraction the
  numerator of which is the amount of qualified investment made in the
  school district in connection with the project and the denominator
  of which is the total amount of qualified investment made in
  connection with the project.
         (e)  In determining whether property on which a project is
  located meets the requirements of Section 313.024 for eligibility
  for a limitation on appraised value under this subchapter, the
  comptroller shall consider whether the project as a whole would
  meet those requirements were the project located at one site in a
  single school district.
         SECTION 2.  Sections 313.032(c) and (d), Tax Code, are
  amended to read as follows:
         (c)  The portion of the report described by Subsection (a)(2)
  must be based on data certified to the comptroller by each recipient
  or former recipient of a limitation on appraised value under this
  chapter. The comptroller shall verify a random sample of not less
  than 33 percent of the data certified to the comptroller using
  information from the Texas Workforce Commission, the chief
  appraiser of the applicable appraisal district, or other sources
  the comptroller considers reliable.
         (d)  The comptroller may require a recipient or former
  recipient of a limitation on appraised value under this chapter to
  submit, on a form the comptroller provides, information required to
  complete the report. Information submitted by a recipient or
  former recipient of a limitation on appraised value under this
  chapter that contains personal identifying information of an
  individual is confidential and not subject to disclosure under
  Chapter 552, Government Code, or Chapter 111 of this code.
         SECTION 3.  Subchapter C, Chapter 313, Tax Code, is amended
  by adding Section 313.055 to read as follows:
         Sec. 313.055.  PROJECT LOCATED IN MULTIPLE SCHOOL DISTRICTS.
  Section 313.0255 applies to a single unified project that is
  located in more than one school district but not more than three
  school districts, each of which is contiguous to another school
  district in which the project is located and is a school district to
  which this subchapter applies, in the same manner as that section
  applies to a project described by Section 313.0255(a), except that
  for purposes of Section 313.0255(c) the project is considered to be
  located in the school district in which the project is located that
  has the highest taxable value of industrial property for the
  preceding tax year as determined under Subchapter M, Chapter 403,
  Government Code.
         SECTION 4.  Sections 313.0255 and 313.055, Tax Code, as
  added by this Act, apply only to an application filed under Chapter
  313, Tax Code, on or after the effective date of this Act. An
  application filed under that chapter before the effective date of
  this Act is governed by the law in effect on the date the
  application was filed, and the former law is continued in effect for
  that purpose.
         SECTION 5.  This Act takes effect September 1, 2017.
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