Bill Text: TX SB627 | 2011-2012 | 82nd Legislature | Enrolled
Bill Title: Relating to the participation by certain taxing units in tax increment financing and the payment of tax increments into the tax increment fund for a reinvestment zone.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Passed) 2011-06-17 - Effective immediately [SB627 Detail]
Download: Texas-2011-SB627-Enrolled.html
S.B. No. 627 |
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relating to the participation by certain taxing units in tax | ||
increment financing and the payment of tax increments into the tax | ||
increment fund for a reinvestment zone. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 311.013, Tax Code, is amended by | ||
amending Subsection (c) and adding Subsections (c-1), (f-1), and | ||
(f-2) to read as follows: | ||
(c) Notwithstanding any termination of the reinvestment | ||
zone under Section 311.017(a) and unless otherwise specified by an | ||
agreement between the taxing unit and the municipality or county | ||
that created the zone, a taxing unit shall make a payment required | ||
by Subsection (b) not later than the 90th day after the later of: | ||
(1) the delinquency date for the unit's property | ||
taxes; or | ||
(2) the date the municipality or county that created | ||
the zone submits to the taxing unit an invoice specifying the tax | ||
increment produced by the taxing unit and the amount the taxing unit | ||
is required to pay into the tax increment fund for the zone. | ||
(c-1) A delinquent payment incurs a penalty of five percent | ||
of the amount delinquent and accrues interest at an annual rate of | ||
10 percent. | ||
(f-1) This subsection does not apply to a hospital district | ||
to which Section 281.095, Health and Safety Code, applies. | ||
Notwithstanding Subsection (f), the commissioners court of a county | ||
that enters into an agreement with the governing body of a | ||
municipality under Subsection (f) may enter into an agreement with | ||
the governing body of the municipality under that subsection on | ||
behalf of a taxing unit other than the county if by statute the ad | ||
valorem tax rate of the other taxing unit is approved by the | ||
commissioners court or the commissioners court is expressly | ||
required by statute to levy the ad valorem taxes of the other taxing | ||
unit. The agreement entered into on behalf of the other taxing unit | ||
is not required to contain the same conditions as the agreement | ||
entered into on behalf of the county. This subsection does not | ||
authorize the commissioners court of a county to enter into an | ||
agreement on behalf of another taxing unit solely because the | ||
county tax assessor-collector is required by law to assess or | ||
collect the taxing unit's ad valorem taxes. | ||
(f-2) This subsection does not apply to a hospital district | ||
to which Section 281.095, Health and Safety Code, applies. | ||
Notwithstanding Subsection (f), the commissioners court of a county | ||
that creates a zone may provide by order for the payment into the | ||
tax increment fund for the zone of a portion of the tax increment | ||
produced by a taxing unit other than the county if by statute the ad | ||
valorem tax rate of the other taxing unit is approved by the | ||
commissioners court or the commissioners court is expressly | ||
required by statute to levy the ad valorem taxes of the other taxing | ||
unit. The order may include conditions for payment of that tax | ||
increment into the fund that are different from the conditions | ||
applicable to the county's obligation to pay into the fund the tax | ||
increment produced by the county. This subsection does not | ||
authorize the commissioners court of a county to provide for the | ||
payment into the fund of a portion of the tax increment produced by | ||
another taxing unit solely because the county tax | ||
assessor-collector is required by law to assess or collect the | ||
taxing unit's ad valorem taxes. | ||
SECTION 2. This Act applies only to a taxing unit's tax | ||
increment for a period occurring on or after the effective date of | ||
this Act. A taxing unit's tax increment for a period occurring | ||
before the effective date of this Act is governed by the law in | ||
effect for that period, and the former law is continued in effect | ||
for that purpose. | ||
SECTION 3. 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, 2011. | ||
______________________________ | ______________________________ | |
President of the Senate | Speaker of the House | |
I hereby certify that S.B. No. 627 passed the Senate on | ||
April 27, 2011, by the following vote: Yeas 31, Nays 0. | ||
______________________________ | ||
Secretary of the Senate | ||
I hereby certify that S.B. No. 627 passed the House on | ||
May 23, 2011, by the following vote: Yeas 142, Nays 0, one | ||
present not voting. | ||
______________________________ | ||
Chief Clerk of the House | ||
Approved: | ||
______________________________ | ||
Date | ||
______________________________ | ||
Governor |