HJR99 Passes The Texas House
TAG is pleased to announce that, earlier today, House Joint Resolution 99 passed the Texas House of Representatives with 127 in favor and 15 opposed.
This legislation will be a valuable tool for counties to fund transportation projects without raising taxes or fees.
HJR 99 eliminates the apparent constitutional limitation on the authority of a county to implement tax increment financing and facilitates a county’s financing of transportation projects in conjunction with a transportation reinvestment zone (“TRZ”).
TRZs are an innovative tool for generating funding by capturing and leveraging the economic growth that results from a transportation project. A TRZ allows a city (or a county if HJR 99 is adopted) to designate a geographic area around a proposed transportation project and capture the incremental property tax revenue generated in the area for use in funding the development of that project.
TAG thanks our entire team of members, partners and advocates who have helped us every step of the way. We continue to lead advocacy for transportation funding and we appreciate every ounce of hard work to get this critical bill to the finish line. Our work is not done as we now move our advocacy efforts to the Texas Senate in the coming days. Stay tuned!