| (C) the project proposed by the applicant is reasonably
likely to generate tax revenue in an amount sufficient to offset the
school district maintenance and operations ad valorem tax revenue
lost as a result of the agreement before the 25th anniversary of the
beginning of the limitation period; and
(D) the limitation on appraised value is a determining
factor in the applicant's decision to invest capital and construct
the project in this state;
(4) not later than 90 days after written notice that
the school district and the comptroller have determined that applicant
has submitted a completed application that is eligible for a limitation
of appraised value under Tax Code, §313.025(b), provide to the
school district:
(A) an economic impact evaluation as required pursuant
to Tax Code, §313.025(b);
(B) the comptroller's conclusion for each made pursuant
to paragraph (3) of this subsection; and
(C) one of the three following:
(i) a comptroller certificate for a limitation;
(ii) a comptroller certificate for a limitation, subject
to:
(I) conditions identified in the comptroller certificate
for a limitation being completed prior to execution of the agreement;
or
(II) the agreement including additional provisions
as identified in the comptroller certificate for a limitation; or
(iii) a written explanation of the comptroller's decision
not to issue a certificate.
(e) Action after agreement review. No later than 20
business days after receiving an agreement for limitation on appraised
value acceptable to an applicant, the comptroller:
(1) shall review the agreement for:
(A) compliance with Tax Code, Chapter 313, and this
subchapter; and
(B) consistency with the application submitted to the
comptroller and as amended or supplemented;
(2) may amend or withdraw the comptroller certificate
for a limitation if the comptroller determines that the agreement
as submitted by the applicant does not comply with Tax Code, Chapter
313 or this subchapter or that the agreement contains provisions that
are not consistent with or represents information significantly different
from that presented in the application as submitted to the comptroller;
and
(3) provide written notification to the school district
of the actions taken under this subsection.
(f) Application changes after the notice of completed
application. If the comptroller receives an amended application or
a supplemental application by an applicant after the comptroller has
prepared or sent written notice that applicant has submitted a completed
application, the comptroller shall:
(1) reject the amended application, supplemental application,
or application, in whole or in part, and discontinue consideration
of any submission by applicant;
(2) with the written concurrence of the school district,
consider the completed application, as amended or supplemented, before
the 91st day from application review start date; or
(3) review the documents submitted by applicant and
complete the requirements according to subsection (d) of this section.
(g) Applications and agreements for deferred qualifying
time period. When an eligible completed application for an agreement
for limitation on appraised value requests to begin the qualifying
time period after the date that the application is approved, the comptroller:
(1) to the extent possible, shall prepare the economic
impact analysis for an estimated impact of the qualified investment
during the proposed qualifying time period;
(2) if an appraised value limitation agreement which
defers the time at which the qualifying time period starts for more
than one year is executed, may request at any time prior to the commencement
of the qualifying time period additional information to revise the
economic impact analysis for the qualified investment; and
(3) based on the revised economic impact analysis,
may revise the comptroller certificate for a limitation that was previously
submitted, or determine to not issue such a certificate; and
(4) if a revised comptroller certificate for a limitation
is prepared, or a determination is made not to issue such a certificate,
shall provide the revised comptroller certificate for a limitation,
or a written explanation of the decision not to issue such certificate,
and revised economic impact analysis to the school district and approved
applicant.
|
| Source Note: The provisions of this §9.1055 adopted to be effective June 22, 2010, 35 TexReg 5367; amended to be effective June 2, 2014, 39 TexReg 4259; amended to be effective September 11, 2017, 42 TexReg 4652; amended to be effective February 6, 2020, 45 TexReg 764; amended to be effective October 20, 2020, 45 TexReg 7433 |
