Sec. 460.601. DEFINITION. In this subchapter, "tax increment" means the amount of revenue generated from ad valorem taxes, sales and use taxes imposed by a municipality under Section 321.101(a), Tax Code, or both ad valorem and sales and use taxes that are attributable to a public transportation financing area designated under this subchapter that exceeds the amount attributable to the area for the year in which the area was designated.
Added by Acts 2011, 82nd Leg., R.S., Ch. 921 (S.B. 1422), Sec. 4, eff. September 1, 2011.
Structure Texas Statutes
Subtitle K - Mass Transportation
Chapter 460 - Coordinated County Transportation Authorities
Subchapter I. Participation in Authority Through Tax Increment Payments
Section 460.602. Participation in Service Plan; Agreement With Municipality
Section 460.603. Designation of Public Transportation Financing Area
Section 460.605. Designation of Tax Increment
Section 460.606. Tax Increment Account; Use of Taxes
Section 460.607. Agreement With Comptroller
Section 460.608. Accounting of Maintenance and Operating Expenses
Section 460.609. Capital Recovery Fee
Section 460.610. Use of Surplus Tax Increment Payment Amounts
Section 460.611. Termination of Public Transportation Financing Area