Texas Tax Code
§ 311.006 — RESTRICTIONS ON COMPOSITION OF REINVESTMENT ZONE
TX § 311.006Title 3. LOCAL TAXATION · Part B. SPECIAL PROPERTY TAX PROVISIONS · Ch. 311. TAX INCREMENT FINANCING ACT
Statute text
View on source(a)A municipality may not designate a reinvestment zone if:
(1)more than 30 percent of the property in the proposed zone, excluding property that is publicly owned, is used for residential purposes; or
(2)the total appraised value of taxable real property in the proposed zone and in existing reinvestment zones exceeds:
(A)25 percent of the total appraised value of taxable real property in the municipality and in the industrial districts created by the municipality, if the municipality has a population of 100,000 or more; or
(B)50 percent of the total appraised value of taxable real property in the municipality and in the industrial districts created by the municipality, if the municipality has a population of less than 100,000.
(b)A municipality may not change the boundaries of an existing reinvestment zone to include property in excess of the restrictions on composition of a zone described by Subsection (a).
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Legislative history
Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 14.004, eff. September 1, 2007. Acts 2009, 81st Leg., R.S., Ch. 543 (S.B. 1633), Sec. 1, eff. September 1, 2009. Acts 2009, 81st Leg., R.S., Ch. 910 (H.B. 1770), Sec. 2, eff. June 19, 2009. Acts 2011, 82nd Leg., R.S., Ch. 1032 (H.B. 2853), Sec. 4, eff. June 17, 2011. Acts 2011, 82nd Leg., R.S., Ch. 1032 (H.B. 2853), Sec. 21, eff. June 17, 2011.