Texas Tax Code

§ 311.0125 — TAX ABATEMENT AGREEMENTS

TX § 311.0125Title 3. LOCAL TAXATION · Part B. SPECIAL PROPERTY TAX PROVISIONS · Ch. 311. TAX INCREMENT FINANCING ACT

Statute text

(a)Notwithstanding any provision in this chapter to the contrary, a taxing unit other than a school district may enter into a tax abatement agreement with an owner of real or personal property in a reinvestment zone, regardless of whether the taxing unit deposits or agrees to deposit any portion of its tax increment into the tax increment fund.

(b)To be effective, an agreement to abate taxes on real property in a reinvestment zone must be approved by:

(1)the board of directors of the reinvestment zone; and

(2)the governing body of each taxing unit that imposes taxes on real property in the reinvestment zone and deposits or agrees to deposit any of its tax increment into the tax increment fund for the zone.

(c)In any contract entered into by the board of directors of a reinvestment zone in connection with bonds or other obligations, the board may convenant that the board will not approve a tax abatement agreement that applies to real property in that zone.

(d)If a taxing unit enters into a tax abatement agreement authorized by this section, taxes that are abated under that agreement are not considered taxes to be imposed or produced by that taxing unit in calculating the amount of:

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Legislative history

Added by Acts 1999, 76th Leg., ch. 983, Sec. 6, eff. June 18, 1999. Amended by Acts 2003, 78th Leg., ch. 978, Sec. 4, eff. Sept. 1, 2003.