Section 3842.161 - Tax Increment Financing Powers(a) The district may designate all or any part of the district as a tax increment reinvestment zone, and the district may use tax increment financing under Chapter 311, Tax Code, in the manner provided by that chapter for a municipality, except as modified by this section.(b) The district has all powers provided under Chapter 311, Tax Code.(c) The district and an overlapping taxing unit may enter into an interlocal agreement for the payment of all or a portion of the tax increment of the unit to the district.(d) For the purpose of tax increment financing under this section, the board functions as the board of directors of the reinvestment zone. Section 311.009, Tax Code, does not apply to the district.Tex. Spec. Dist. Loc. Laws § 3842.161
Added by Acts 2007, 80th Leg., R.S., Ch. 589, Sec. 2, eff. 6/16/2007.