Texas Transportation Code

§ 173.305 — TAX INCREMENT FUND FOR TRANSPORTATION INFRASTRUCTURE ZONE IN CERTAIN DISTRICTS

TN § 173.305Title 5. RAILROADS · Part I. SPECIAL DISTRICTS · Ch. 173. INTERMUNICIPAL COMMUTER RAIL DISTRICTS · Art. G. BONDS

Statute text

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A district established before January 1, 2005, that creates a transportation infrastructure zone shall establish a tax increment fund. In addition to the amount of tax increment deposited to the tax increment fund, all revenue from the sale of tax increment bonds or notes under Section 173.306, revenue from the sale of any property acquired as part of a plan adopted to use tax increment financing, and other revenue to be used in implementing the plan shall be deposited in the tax increment fund for the zone.

Legislative history

Added by Acts 2011, 82nd Leg., R.S., Ch. 1307 (H.B. 3030), Sec. 3, eff. September 1, 2011.