Texas Education Code

§ 49.010 — TAX INCREMENT OBLIGATIONS

ED § 49.010Title 2. PUBLIC EDUCATION · Part I. SCHOOL FINANCE AND FISCAL MANAGEMENT · Ch. 49. OPTIONS FOR LOCAL REVENUE LEVELS IN EXCESS OF ENTITLEMENT · Art. A. GENERAL PROVISIONS

Statute text

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The payment of tax increments under Chapter 311, Tax Code, is not affected by the consolidation of territory or tax bases or by annexation under this chapter. In each tax year a school district paying a tax increment from taxes on property over which the district has assumed taxing power is entitled to retain the same percentage of the tax increment from that property that the district in which the property was located before the consolidation or annexation could have retained for the respective tax year.

Legislative history

Added by Acts 1995, 74th Leg., ch. 260, Sec. 1, eff. May 30, 1995. Transferred, redesignated and amended from Education Code, Section 41.010 by Acts 2019, 86th Leg., R.S., Ch. 943 (H.B. 3), Sec. 1.049, eff. September 1, 2019.