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TX SB1250
Bill
Status
2/12/2025
Primary Sponsor
Juan Hinojosa
Click for details
AI Summary
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Amends the definition of "project financing zone" in the Tax Code to provide municipalities with an alternative method for designating zone boundaries beyond the standard three-mile radius from a qualified project's center
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Allows municipalities described in Section 351.001(7)(B) that designated a zone on or before December 31, 2024, to define boundaries as a continuous geographic area equal to or smaller than the maximum three-mile radius area, as long as it contains the qualified project
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Requires zones using the alternative boundary method to specify exact boundaries in their designation, rather than just longitude and latitude coordinates of the project center
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Zone designations continue to expire no later than 30 years from the date of designation
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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
Not again placed on intent calendar
5/16/2025