(at the request of House Interim Committee on Revenue for Representative Bobby Levy, Representative Andrea Valderrama)
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Regular Sponsors:
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Bill Title:
Relating to special assessment of historic property; and prescribing an effective date.
Catchline/Summary:
Extends historic property special assessment program for two years.Limits program for property tax special assessment of historic property to commercial property. Requires preservation plan to have aim of preventing displacement, reversing impacts of, or preventing, community disinvestment and engaging and serving underrepresented histories. Reduces minimum expenditure commitment to five percent of historic property's real market value. Requires, for rehabilitation work in city with population of at least 30,000, at least 50 percent of services to be performed by minority-owned business, woman-owned business or emerging small business.]
Extends historic property special assessment program for two years. Amends formulas for assessing property in program.
Takes effect on 91st day following adjournment sine die.
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HB 4054
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