2004 Biennial Reports

Biennial Reports Of
Reinvestment Zone for Tax Abatement Registry
Tax Abatement Agreement Registry
Tax Increment Financing Zone Registry

Reinvestment Zone for Tax Abatement Registry

Tax Abatement Agreement Registry

Tax Increment Financing Zone Registry

Appendix I

On September 1, 1997, the Comptroller assumed responsibility for the state's Central Registry of Reinvestment Zones and Ad Valorem Tax Abatement Agreements. House Bill 1526—enacted by the 75th Legislature in 1997—moved the registry to the Comptroller’s office from the Texas Department of Economic Development (formerly, Texas Department of Commerce).

Each taxing unit that designates a reinvestment zone or executes a tax abatement agreement must notify the registry each year, before April 1 of the year following the year in which the zone is designated or the agreement is executed.

The taxing unit notification must contain three primary elements. First, for a reinvestment zone, the taxing unit must provide a general description of the zone, including its size, the types of property located in it, its duration, and the guidelines and criteria established for the reinvestment zone under Tax Code Section 312.002. The taxing unit also must send any subsequent amendments and modifications of the guidelines or criteria.

Second, the taxing unit must provide a copy of each tax abatement agreement to which it is a party. Third, the unit must send any other information required by the Comptroller’s office to fulfill its statutory responsibilities.

On June 11, 2001, the Comptroller was charged with the responsibility of starting the state's Central Registry of Tax Increment Reinvestment Zones. House Bill 612—enacted by the 77th Legislature in 2001—was the enabling legislation that began the registry in the Comptroller’s office.

Each taxing unit that designates a reinvestment zone or approves a project plan or reinvestment zone financing plan under Chapter 311 of the Tax Code shall deliver a copy of the plans to the Comptroller. Delivery must be made before April 1 of the year following the year in which the zone is designated or the plan is approved.

The taxing unit notification must contain three primary elements. First, for a reinvestment zone, the taxing unit must provide a general description of the zone, including its size, the types of property located in it, and its duration. The taxing unit also must send any subsequent amendments and modifications of the project plan or reinvestment zone financing plan.

Second, the taxing unit must provide a copy of each project plan or reinvestment zone financing plan approved. Third, the unit must send any other information required by the Comptroller’s office to fulfill its statutory responsibilities.

This same House Bill 612 amended Section 311.016 of the Tax Code to require each municipality to send a copy of its Annual Report by Municipality to the Comptroller by the 90thday following the end of the fiscal year of the municipality.

The Comptroller is also required to submit a report to the legislature and to the governor on the Reinvestment Zone for Tax Abatement Registry, Tax Abatement Agreement Registry and Tax Increment Financing Zone Registry.