H.B. No. 2027 amends the Special District Local Laws Code to enhance the authority of the Brazoria County Commissioners Court regarding tax abatement agreements for properties within the Port Freeport district. The bill introduces new provisions that allow the commissioners court to designate property owned by the district as a reinvestment zone, enabling the court to execute tax abatement agreements with owners of leasehold interests in tax-exempt real property or property owned by the district. This includes exemptions for both the value of the leasehold interest and tangible personal property or improvements located on the designated real property.

The bill also clarifies that the terms of any agreements made under this section will be governed by Chapter 312 of the Tax Code. Additionally, it specifies that the designation of a reinvestment zone can occur if the criteria set forth in Section 312.202 of the Tax Code are met, similar to the process followed by municipalities. The act is set to take effect immediately upon receiving a two-thirds vote from both houses or on September 1, 2025, if such a vote is not achieved.

Statutes affected:
Introduced: Special District Local Laws Code 5002.203 (Special District Local Laws Code 5002)
House Committee Report: Special District Local Laws Code 5002.203 (Special District Local Laws Code 5002)
Engrossed: Special District Local Laws Code 5002.203 (Special District Local Laws Code 5002)
Senate Committee Report: Special District Local Laws Code 5002.203 (Special District Local Laws Code 5002)
Enrolled: Special District Local Laws Code 5002.203 (Special District Local Laws Code 5002)