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TX SB2261
Bill
Status
3/11/2025
Primary Sponsor
Molly Cook
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AI Summary
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Limits disbursements from tax increment financing (TIF) reinvestment zone funds for certain project costs to no more than 25% of total deposits paid into the fund in a given calendar year
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The spending cap applies specifically to project costs described in Sections 311.002(1)(D) and (E) of the Tax Code, which relate to educational facilities and affordable housing
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Amends Section 311.014 of the Tax Code by adding new Subsection (b-1) to create this disbursement restriction
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Takes effect January 1, 2026
Legislative Description
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.
Taxation
Last Action
Referred to Economic Development
3/25/2025