Governor signs bill creating Presidio MDD
June 27th, 2013 under Top Stories
By ALBERTO TOMAS HALPERN
AUSTIN, PRESIDIO – Texas Governor Rick Perry signed Senate Bill 1584 into law on Friday, June 14, paving the way for the creation of the Presidio Municipal Development District.
The piece of local legislation was authored by State Sen. Jose Rodriguez and sponsored in the Texas House by Rep. Poncho Nevarez during the regular session of the Texas Legislature this year.
Presidio voters approved the measure at the ballot box November 6, 2012, but due to some technical issues, the election was voided. The bill Perry signed validates the dissolution of the Development Corporation of Presidio (DCOP) and creates the Presidio Municipal Development District (PMDD) as a replacement.
The law replaces the dedicated sales and use tax that benefited DCOP with a dedicated sales and use tax for the PMDD. The sales tax under DCOP applied to people and business within the Presidio city limits. The new tax, under the PMDD, extends into the extraterritorial jurisdiction of the city, including the city.
The purpose of the tax is to finance development projects that are deemed beneficial to the district.
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