House File 645 H-1397 Amend the Senate amendment, H-1387, to House File 1 645, as passed by the House, as follows: 2 1. Page 1, after line 4 by inserting: 3 < Sec. ___. NEW SECTION . 404.2A New development 4 revitalization areas —— local taxing authority approval. 5 1. If the revitalization area is a new development 6 revitalization area, a tax exemption schedule 7 authorized under this chapter for which the exemption 8 period begins on or after July 1, 2015, shall not take 9 effect until the governing body of each local taxing 10 authority authorized to certify a levy on property 11 located within the area comprising the revitalization 12 area has adopted a resolution authorizing the tax 13 exemption schedule. 14 2. For the purposes of this subsection, “new 15 development revitalization area” means a revitalization 16 area that meets all of the following conditions: 17 a. Is designated in whole or in part under section 18 404.1, subsection 5, or is comprised of property in 19 which less than fifty percent of the property meets 20 the description of conditions under section 404.1, 21 subsections 1 and 2. 22 b. Provides or proposes an exemption under this 23 chapter from taxation on value added by improvements to 24 single-family residential property. 25 c. Is either established by a city and covers 26 at least eighty percent of the area within the city 27 limits or is established by a county and covers at 28 least eighty percent of the unincorporated area of the 29 county. > 30 2. Page 5, line 37, after < credits > by inserting 31 < and urban revitalization areas > 32 3. By renumbering as necessary. 33 ______________________________ WATTS of Dallas -1- H1387.2263 (1) 86 md/sc 1/ 1 #1. #2. #3.