TAX INCREMENT FINANCING.
Tex. AGRIC Code § 60.106.
in effect(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.
Added by Acts 2001, 77th Leg., ch. 1393, Sec. 1, eff. June 16, 2001.
SUBCHAPTER F. ASSESSMENTS