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S.B. No. 1633 Chapter 543 1 AN ACT 2 relating to certain restrictions on the composition of a tax 3 increment financing reinvestment zone. 4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 5 SECTION 1. Subsection (a), Section 311.006, Tax Code, is 6 amended to read as follows: 7 (a) A municipality may not create a reinvestment zone if: 8 (1) more than 10 percent of the property in the 9 proposed zone, excluding property that is publicly owned, is used 10 for residential purposes; or 11 (2) the total appraised value of taxable real property 12 in the proposed zone and in existing reinvestment zones exceeds: 13 (A) 20 percent of the total appraised value of 14 taxable real property in the municipality and in the industrial 15 districts created by the municipality, if the municipality is the
16 county seat of a county: 17 (i) that is adjacent to a county with a 18 population of 3.3 million or more; and 19 (ii) in which a planned community is 20 located that has 20,000 or more acres of land, that was originally 21 established under the Urban Growth and New Community Development 22 Act of 1970 (42 U.S.C. Section 4501 et seq. ), and that is subject to 23 restrictive covenants containing ad valorem or annual variable 24 budget-based assessments on real property; or
Reference the current page of this Legislative Document.
Texas. Legislature. Senate.81st Texas Legislature, Senate Bill 1633, Chapter 543,
legislative document,
June 19, 2009;
[Austin, Texas].
(https://texashistory.unt.edu/ark:/67531/metapth149412/m1/1/:
accessed May 7, 2024),
University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu;
crediting UNT Libraries Government Documents Department.