Legislative Update

2010 Tarrant County
Commercial Real Estate Forecast
Susan Halsey
Jackson Walker L.L.P. shalsey@jw.com

-Will Rogers

“Last year we said, 'Things can't go on like this', and they didn't, they got worse.” “Buy land. They ain't making any more of the stuff.”

-Winston Churchill

“Politics is the ability to foretell what is going to happen tomorrow, next week, next month and next year. And to have the ability afterwards to explain why it didn’t happen.”

81st Regular Session
8000 7000 6000 5000 4000 3000 2000 1000 0 Bills Filed Bills Enacted 2007 2009

2009 Accomplishments
• Flexibility for tax abatements
• Ability to extend TIF terms • Broader uses for TIF funds

2009 Accomplishments
• Property appraisal process reforms • Pilot Program for appeal of Appraisal Review Board decisions (over $1 million) • Reduced the impact of the Margin Tax on Texas small businesses

2009 Failures
• • • • No manufacturing project zones No sales price disclosure bill No eminent domain reforms No reform of state financing for transportation infrastructure

2011 Expectations
• Increase job creation in the Texas manufacturing industry • Resolve issues relating to the eminent domain legislation introduced in 2009 • Survey local ordinances governing surface use of property in oil and gas development and recommend changes for regulation of the operation of oil and gas industries in urban areas in the Barnett Shale

What will they really do?
• Budget
• Sales tax revenues - down nearly $700 million • Natural gas taxes - down $420 million • Revised franchise tax – down $111 million
--Center for Public Policy Priorities

What will they really do?
• Redistricting • For 2010 Census numbers

Upcoming Elections
• Early Voting – February 16 through February 26 • Primary – March 2 • Primary Runoff if needed – April 13 • General Election – November 2

Two reasons to participate
“Democracy is a process by which the people are free to choose the man who will get the blame.” – Laurence J. Peter “Everyone has his day and some days last longer than others.” – Winston Churchill

Local Events
• January 15 – Kay Granger / Fort Worth Rotary • January 22 – Roger Williams / Leaders in Business • February 5 – Kay Bailey Hutchison / Leaders in Government • February 25 – Mayor Mike Moncrief / State of the City

Legislative Update
2010 Tarrant County
Commercial Real Estate Forecast Susan Halsey
Jackson Walker L.L.P. shalsey@jw.com