Loading chat...
TX HB2877
Bill
Status
2/14/2025
Primary Sponsor
Denise Villalobos
Click for details
AI Summary
-
Amends Section 351.1015(a)(4) of the Tax Code to expand how municipalities can define the boundaries of a "project financing zone" used for funding convention centers, multipurpose arenas, and related infrastructure
-
Allows certain municipalities (those described in Section 351.001(7)(B)) to designate project financing zones as a contiguous geographic area containing the qualified project, rather than strictly using a three-mile radius from the project center
-
Requires that any alternatively-shaped zone must have a total area less than or equal to the maximum area allowed under the three-mile radius option
-
Requires municipalities using the alternative boundary option to specify the exact boundaries of the zone in the designation, rather than just the longitude and latitude of the project center
-
Takes effect September 1, 2025
Legislative Description
Relating to the definition of a project financing zone for the purposes of certain municipalities that use certain tax revenue to fund convention center facilities, multipurpose arenas, venues, and related infrastructure.
Taxation
Last Action
Referred to Ways & Means
3/19/2025