SB 2261
AN ACT relating to a restriction on the authority to disburse money paid
Senate Bill • Cook
89th Regular Session
Jan 14, 2025 - Jun 2, 2025 • Session ended
Awaiting Committee Assignment
Bill filed, pending referral to Senate committee
Committee
Not yet assigned
Fiscal Note
Not available
What This Bill Does
relating to a restriction on the authority to disburse money paid
Subject Areas
Bill Text
relating to a restriction on the authority to disburse money paid into the tax increment fund for a tax increment financing reinvestment zone to pay certain project costs for the zone. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 311.014, Tax Code, is amended by adding Subsection (b-1) to read as follows: (b-1) Notwithstanding Subsection (b), money may not be disbursed from the fund in a calendar year to pay project costs described by Sections 311.002(1)(D) and (E) for the zone in an amount greater than 25 percent of the total deposits paid into the fund for that year under Section 311.013. SECTION 2. This Act takes effect January 1, 2026.
Bill History
filed
Bill filed: AN ACT relating to a restriction on the authority to disburse money paid
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