Sec. 60.106. TAX INCREMENT FINANCING. (a) A district may use tax increment financing under Chapter 311 , Tax Code, in the manner provided by that chapter for a municipality and as modified by this section. (b) A county commissioners court may establish a reinvestment zone including property located in the district and enter into a contract with the directors of the district on terms mutually acceptable to the two entities to allow the district to use tax increment financing as provided by Chapter 311 , Tax Code. (c) Property within the corporate limits of a municipality is not eligible for tax increment financing under this section. (d) Before using tax increment financing, a district must: (1) obtain the approval of the county commissioners court that issued the district's creation order; and (2) comply with Section 311.003 , Tax Code, as that section applies to a municipality. (e) For the purpose of tax increment financing under this section, the district board of directors is the board of directors of the reinvestment zone. Section 311.009 , Tax Code, does not apply to this chapter.
‹ Prev All Texas sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.