Section 3885.006 - Eligibility for Inclusion in Special Zones(a) All or any part of the area of the district is eligible to be included in: (1) a tax increment reinvestment zone created under Chapter 311, Tax Code;(2) a tax abatement reinvestment zone created under Chapter 312, Tax Code;(3) an enterprise zone created under Chapter 2303, Government Code; or(4) an industrial district created under Chapter 42, Local Government Code.(b) If the city creates a tax increment reinvestment zone described by Subsection (a), the city and the board of directors of the zone, by contract with the district, may grant money deposited in the tax increment fund to the district to be used by the district for:(1) the purposes permitted for money granted to a corporation under Section 380.002(b), Local Government Code; and(2) any other district purpose, including the right to pledge the money as security for any bonds or other obligations issued by the district under Section 3885.253.(c) A tax increment reinvestment zone created by the city in the district is not subject to the limitations provided by Section 311.006, Tax Code.Tex. Spec. Dist. Loc. Laws § 3885.006
Added by Acts 2011, 82nd Leg., R.S., Ch. 706, Sec. 2.01, eff. 9/1/2011.