Sec. 374.031. ELECTION REQUIRED. (a) A municipality may not use the tax increment method of financing prescribed under this subchapter unless a majority of the qualified voters of the municipality voting on the question approve that method of financing in an election held by the municipality.
(b) The ballot shall be printed to provide for voting for or against the proposition: "Use of tax increment financing for urban renewal purposes."
(c) The election may be held in conjunction with an election held under Section 374.011 or 374.012.
(d) This referendum is not required if the constitutional amendment on tax increment financing is approved by the voters.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Structure Texas Statutes
Title 12 - Planning and Development
Subtitle A - Municipal Planning and Development
Chapter 374 - Urban Renewal in Municipalities
Subchapter D. Tax Increment Financing for Urban Renewal Projects
Section 374.031. Election Required
Section 374.032. Tax Increment Fund
Section 374.033. Computation of Tax Increments
Section 374.034. Allocation of Tax Collections and Tax Increments; Tax Increment Fund
Section 374.035. Tax Increment Bonds