Sec. 49.010. TAX INCREMENT OBLIGATIONS. The payment of tax increments under Chapter 311, Tax Code, is not affected by the consolidation of territory or tax bases or by annexation under this chapter. In each tax year a school district paying a tax increment from taxes on property over which the district has assumed taxing power is entitled to retain the same percentage of the tax increment from that property that the district in which the property was located before the consolidation or annexation could have retained for the respective tax year.
Added by Acts 1995, 74th Leg., ch. 260, Sec. 1, eff. May 30, 1995.
Transferred, redesignated and amended from Education Code, Section 41.010 by Acts 2019, 86th Leg., R.S., Ch. 943 (H.B. 3), Sec. 1.049, eff. September 1, 2019.
Structure Texas Statutes
Subtitle I - School Finance and Fiscal Management
Chapter 49 - Options for Local Revenue Levels in Excess of Entitlement
Subchapter A. General Provisions
Section 49.002. Options to Reduce Local Revenue Level
Section 49.003. Inclusion of Attendance Credit and Nonresidents in Weighted Average Daily Attendance
Section 49.004. Annual Review of Local Revenues
Section 49.0041. Local Revenue Level in Excess of Entitlement After Review Notification
Section 49.005. Comptroller and Appraisal District Cooperation
Section 49.007. Commissioner to Approve Subsequent Boundary Changes
Section 49.008. Homestead Exemptions
Section 49.009. Tax Abatements
Section 49.010. Tax Increment Obligations