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Texas Legislative Session Round-Up

May 31, 2017

The latest session of Texas legislation is coming to a close and within the contention are several proposed bills that could have a profound effect on commercial real estate if passed. One such bill concerns the state budget and the debate is whether funds would be better allocated to support under resourced social services or to offer economic incentives for companies to move to Texas under the Governor-proposed Texas Enterprise Fund. Another bill SB 1713, would require e-retailers to pay state sales taxes translating into an estimated $1.8B in additional state revenue, and would create an even “playing field” for struggling brick-and-mortar retailers. Next, SB 2 would address the rapidly rising property taxes in Texas by requiring local governments to hold elections if they decide to increase the amount of property taxes by a certain amount. In addition, SB 2 would alter and reconfigure boards and panels that appraise as well as set property values. SB 730 was recently passed with a unanimous vote, the bill increases the exemption amount from $500 to $2,500 for small businesses. Contention in regards to the proposed high-speed monorail from Houston to Dallas, biological sex enforced bathroom SB 6, and HB 4046 which would require elections be held every two years for board members in Houston’s TIRZes are also among the debated legislation in this latest session.

Texas Legislative Session Round-Up