Sec. 312.007. DEFERRAL OF COMMENCEMENT OF ABATEMENT PERIOD. (a) In this section, "abatement period" means the period during which all or a portion of the value of real property or tangible personal property that is the subject of a tax abatement agreement is exempt from taxation.
(b) Notwithstanding any other provision of this chapter, the governing body of the taxing unit granting the abatement and the owner of the property that is the subject of the agreement may agree to defer the commencement of the abatement period until a date that is subsequent to the date the agreement is entered into, except that the duration of an abatement period may not exceed 10 years.
Added by Acts 2009, 81st Leg., R.S., Ch. 1195 (H.B. 3896), Sec. 2, eff. June 19, 2009.
Added by Acts 2009, 81st Leg., R.S., Ch. 1225 (S.B. 1458), Sec. 2, eff. June 19, 2009.
Structure Texas Statutes
Subtitle B - Special Property Tax Provisions
Chapter 312 - Property Redevelopment and Tax Abatement Act
Subchapter A. General Provisions
Section 312.002. Eligibility of Taxing Unit to Participate in Tax Abatement
Section 312.0025. Designation of Reinvestment Zone by School District
Section 312.003. Confidentiality of Proprietary Information
Section 312.004. Taxing Unit With Tax Rate Set by Commissioners Court
Section 312.005. State Administration
Section 312.006. Expiration Date
Section 312.007. Deferral of Commencement of Abatement Period