Terms Used In Tennessee Code 9-23-107

  • Statute: A law passed by a legislature.
  • Tax increment agency: means a housing authority, industrial development corporation and/or community redevelopment agency. See Tennessee Code 9-23-102
  • Tax increment revenues: means incremental property tax revenues to be allocated by a taxing agency to a tax increment agency pursuant to a tax increment statute and this chapter. See Tennessee Code 9-23-102
  • Taxing agency: means any county, city, town, metropolitan government or other public entity that levies property taxes on property within a plan area and that has approved the plan. See Tennessee Code 9-23-102

Any taxing agency and tax increment agency may agree upon, approve and amend policies and procedures for allocating and calculating tax increment revenues and implementing this chapter and the applicable tax increment statute; provided, however, such policies and procedures shall not conflict with this chapter or any tax increment statute.