Bill Text: TX SB116 | 2017 | 85th Legislature 1st Special Session | Introduced
Bill Title: Relating to the repeal of the Texas Economic Development Act.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2017-08-04 - Filed [SB116 Detail]
Download: Texas-2017-SB116-Introduced.html
85S12167 LHC-D | ||
By: Kolkhorst | S.B. No. 116 |
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relating to the repeal of the Texas Economic Development Act. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. The following provisions of the Tax Code are | ||
repealed: | ||
(1) Section 312.0025; and | ||
(2) Chapter 313. | ||
SECTION 2. The heading to Section 42.2515, Education Code, | ||
is amended to read as follows: | ||
Sec. 42.2515. ADDITIONAL STATE AID FOR AD VALOREM TAX | ||
CREDITS UNDER FORMER TEXAS ECONOMIC DEVELOPMENT ACT. | ||
SECTION 3. Sections 403.302(d) and (m), Government Code, | ||
are amended to read as follows: | ||
(d) For the purposes of this section, "taxable value" means | ||
the market value of all taxable property less: | ||
(1) the total dollar amount of any residence homestead | ||
exemptions lawfully granted under Section 11.13(b) or (c), Tax | ||
Code, in the year that is the subject of the study for each school | ||
district; | ||
(2) one-half of the total dollar amount of any | ||
residence homestead exemptions granted under Section 11.13(n), Tax | ||
Code, in the year that is the subject of the study for each school | ||
district; | ||
(3) the total dollar amount of any exemptions granted | ||
before May 31, 1993, within a reinvestment zone under agreements | ||
authorized by Chapter 312, Tax Code; | ||
(4) subject to Subsection (e), the total dollar amount | ||
of any captured appraised value of property that: | ||
(A) is within a reinvestment zone created on or | ||
before May 31, 1999, or is proposed to be included within the | ||
boundaries of a reinvestment zone as the boundaries of the zone and | ||
the proposed portion of tax increment paid into the tax increment | ||
fund by a school district are described in a written notification | ||
provided by the municipality or the board of directors of the zone | ||
to the governing bodies of the other taxing units in the manner | ||
provided by former Section 311.003(e), Tax Code, before May 31, | ||
1999, and within the boundaries of the zone as those boundaries | ||
existed on September 1, 1999, including subsequent improvements to | ||
the property regardless of when made; | ||
(B) generates taxes paid into a tax increment | ||
fund created under Chapter 311, Tax Code, under a reinvestment zone | ||
financing plan approved under Section 311.011(d), Tax Code, on or | ||
before September 1, 1999; and | ||
(C) is eligible for tax increment financing under | ||
Chapter 311, Tax Code; | ||
(5) the total dollar amount of any captured appraised | ||
value of property that: | ||
(A) is within a reinvestment zone: | ||
(i) created on or before December 31, 2008, | ||
by a municipality with a population of less than 18,000; and | ||
(ii) the project plan for which includes | ||
the alteration, remodeling, repair, or reconstruction of a | ||
structure that is included on the National Register of Historic | ||
Places and requires that a portion of the tax increment of the zone | ||
be used for the improvement or construction of related facilities | ||
or for affordable housing; | ||
(B) generates school district taxes that are paid | ||
into a tax increment fund created under Chapter 311, Tax Code; and | ||
(C) is eligible for tax increment financing under | ||
Chapter 311, Tax Code; | ||
(6) the total dollar amount of any exemptions granted | ||
under Section 11.251 or 11.253, Tax Code; | ||
(7) the difference between the comptroller's estimate | ||
of the market value and the productivity value of land that | ||
qualifies for appraisal on the basis of its productive capacity, | ||
except that the productivity value estimated by the comptroller may | ||
not exceed the fair market value of the land; | ||
(8) the portion of the appraised value of residence | ||
homesteads of individuals who receive a tax limitation under | ||
Section 11.26, Tax Code, on which school district taxes are not | ||
imposed in the year that is the subject of the study, calculated as | ||
if the residence homesteads were appraised at the full value | ||
required by law; | ||
(9) a portion of the market value of property not | ||
otherwise fully taxable by the district at market value because of: | ||
(A) action required by statute or the | ||
constitution of this state, other than Section 11.311, Tax Code, | ||
that, if the tax rate adopted by the district is applied to it, | ||
produces an amount equal to the difference between the tax that the | ||
district would have imposed on the property if the property were | ||
fully taxable at market value and the tax that the district is | ||
actually authorized to impose on the property, if this subsection | ||
does not otherwise require that portion to be deducted; or | ||
(B) action taken by the district under Subchapter | ||
B or C, Chapter 313, Tax Code, before the repeal [ |
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(10) the market value of all tangible personal | ||
property, other than manufactured homes, owned by a family or | ||
individual and not held or used for the production of income; | ||
(11) the appraised value of property the collection of | ||
delinquent taxes on which is deferred under Section 33.06, Tax | ||
Code; | ||
(12) the portion of the appraised value of property | ||
the collection of delinquent taxes on which is deferred under | ||
Section 33.065, Tax Code; and | ||
(13) the amount by which the market value of a | ||
residence homestead to which Section 23.23, Tax Code, applies | ||
exceeds the appraised value of that property as calculated under | ||
that section. | ||
(m) Subsection (d)(9) does not apply to property that was | ||
the subject of an application under former Subchapter B or C, | ||
Chapter 313, Tax Code, made after May 1, 2009, that the comptroller | ||
recommended should be disapproved. | ||
SECTION 4. Section 2303.507, Government Code, is amended to | ||
read as follows: | ||
Sec. 2303.507. TAX INCREMENT FINANCING AND ABATEMENT[ |
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enterprise zone is also designation of the area as a reinvestment | ||
zone for: | ||
(1) tax increment financing under Chapter 311, Tax | ||
Code; and | ||
(2) tax abatement under Chapter 312, Tax Code[ |
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SECTION 5. Section 23.03, Tax Code, is amended to read as | ||
follows: | ||
Sec. 23.03. COMPILATION OF LARGE PROPERTIES AND PROPERTIES | ||
SUBJECT TO LIMITATION ON APPRAISED VALUE. Each year the chief | ||
appraiser shall compile and send to the Texas [ |
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Economic Development and Tourism Office a list of properties in the | ||
appraisal district that in that tax year: | ||
(1) have a market value of $100 million or more; or | ||
(2) are subject to a limitation on appraised value | ||
under former Chapter 313. | ||
SECTION 6. Section 26.012(6), Tax Code, is amended to read | ||
as follows: | ||
(6) "Current total value" means the total taxable | ||
value of property listed on the appraisal roll for the current year, | ||
including all appraisal roll supplements and corrections as of the | ||
date of the calculation, less the taxable value of property | ||
exempted for the current tax year for the first time under Section | ||
11.31 or 11.315, except that: | ||
(A) the current total value for a school district | ||
excludes: | ||
(i) the total value of homesteads that | ||
qualify for a tax limitation as provided by Section 11.26; and | ||
(ii) new property value of property that is | ||
subject to an agreement entered into under former Chapter 313; and | ||
(B) the current total value for a county, | ||
municipality, or junior college district excludes the total value | ||
of homesteads that qualify for a tax limitation provided by Section | ||
11.261. | ||
SECTION 7. Section 151.359(k), Tax Code, is amended to read | ||
as follows: | ||
(k) A data center is not eligible to receive an exemption | ||
under this section if the data center is subject to an agreement | ||
limiting the appraised value of the data center's property under | ||
former Subchapter B or C, Chapter 313. | ||
SECTION 8. Section 151.3595(j), Tax Code, is amended to | ||
read as follows: | ||
(j) A data center is not eligible to receive an exemption | ||
under this section if the data center is subject to an agreement | ||
limiting the appraised value of the data center's property under | ||
former Subchapter B or C, Chapter 313. | ||
SECTION 9. Section 171.602(f), Tax Code, is amended to read | ||
as follows: | ||
(f) The comptroller may not issue a credit under this | ||
section before the later of: | ||
(1) September 1, 2018; or | ||
(2) the expiration of an agreement under former | ||
Chapter 313 regarding the clean energy project for which the credit | ||
is issued. | ||
SECTION 10. Section 312.403(a), Tax Code, is amended to | ||
read as follows: | ||
(a) In this section, "nuclear electric power generation" | ||
means activities described in category 221113 of the 2002 North | ||
American Industry Classification System [ |
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SECTION 11. Chapter 320, Tax Code, is amended by adding | ||
Section 320.002 to read as follows: | ||
Sec. 320.002. SAVING PROVISIONS AFTER REPEAL OF CHAPTER | ||
313. (a) An agreement limiting the appraised value of property | ||
approved under Subchapter B or C, Chapter 313, before the repeal of | ||
that subchapter continues in effect according to that subchapter as | ||
that subchapter existed immediately before its repeal, and that law | ||
is continued in effect for purposes of the agreement. | ||
(b) The repeal of Subchapter D, Chapter 313, does not affect | ||
a property owner's entitlement to a tax credit granted under that | ||
subchapter if the property owner qualified for the tax credit | ||
before the repeal of that subchapter. | ||
SECTION 12. This Act takes effect December 31, 2019. |