SB2737 - Relating to the requirement that the board of directors of certain tax increment reinvestment zones have conducted by the office of the city controller of the municipality that created the zone an annual financial audit.

  89R15907 BEF-D     By: Cook S.B. No. 2737       A BILL TO BE ENTITLED   AN ACT   relating to the requirement that the board of directors of certain   tax increment reinvestment zones have conducted by the office of   the city controller of the municipality that created the zone an   annual financial audit.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 311.010, Tax Code, is amended by adding   Subsection (k) to read as follows:           (k)     The board of directors of a reinvestment zone to which   this subsection applies shall enter into an agreement with the   office of the city controller of the municipality that created the   reinvestment zone to have conducted by the office a financial audit   of the reinvestment zone at least once each fiscal year of the   reinvestment zone.   This subsection applies only to a reinvestment   zone created by a municipality with a population of at least two   million.          SECTION 2.  Section 311.010(k), Tax Code, as added by this   Act, applies only to a fiscal year of a tax increment reinvestment   zone that begins on or after the effective date of this Act.          SECTION 3.  This Act takes effect September 1, 2025.