Texas Special District Local Laws Code 3938.111 – Designation of Special Zones
Current as of: 2024 | Check for updates
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(a) The district may designate all or any part of the area of the district, as if the district were a municipality, as:
(1) a tax increment reinvestment zone under Chapter 311, Tax Code;
(2) a tax abatement reinvestment zone under Chapter 312, Tax Code; or
(3) an industrial district under Chapter 42, Local Government Code.
(b) § 311.006(b), Tax Code, does not apply to a tax increment reinvestment zone created by the district.
Terms Used In Texas Special District Local Laws Code 3938.111
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(c) The district may submit to the Texas Economic Development Bank a request for designation of a project or activity in the district as an enterprise project in the manner provided for a municipality to submit a request under Chapter 2303, Government Code.
(d) If the county creates a tax increment reinvestment zone under Chapter 311, Tax Code, the county, by contract with the district, may grant money deposited in the tax increment fund to the district to be used by the district for the purposes permitted for money granted to a corporation under § 380.002(b), Local Government Code, including the right to pledge the money as security for any bonds issued by the district for an improvement project.