Sec. 373A.155. COLLECTION AND DEPOSIT OF TAX INCREMENTS. (a) The municipality designating the zone and the county shall provide for the collection of its taxes on real property located in the zone as for any other property taxed by the municipality and the county.
(a-1) The municipality shall pay into the tax increment fund an amount specified in the ordinance designating the zone.
(b) If a county elects to participate in a homestead preservation reinvestment zone, the county shall pay into the tax increment fund for the zone an amount equal to the tax increment paid by the municipality as specified in the order adopted under Section 373A.152.
Added by Acts 2005, 79th Leg., Ch. 495 (H.B. 525), Sec. 1, eff. September 1, 2005.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 1175 (H.B. 470), Sec. 13, eff. September 1, 2007.
Acts 2013, 83rd Leg., R.S., Ch. 711 (H.B. 3350), Sec. 5, eff. September 1, 2013.
Structure Texas Statutes
Title 12 - Planning and Development
Subtitle A - Municipal Planning and Development
Chapter 373A - Homestead Preservation Districts and Reinvestment Zones
Subchapter D. Homestead Preservation Reinvestment Zone
Section 373A.151. Applicability of Other Law
Section 373A.152. General Authority to Create Homestead Preservation Reinvestment Zone
Section 373A.1521. Contents of Reinvestment Zone Ordinance
Section 373A.1522. Effective Date of Zone
Section 373A.1541. Tax Increment Financing and Abatement
Section 373A.155. Collection and Deposit of Tax Increments
Section 373A.157. Administration and Use of Tax Increment Fund