Sec. 374.031. ELECTION REQUIRED. (a) A municipality may not use the tax increment method of financing prescribed under this subchapter unless a majority of the qualified voters of the municipality voting on the question approve that method of financing in an election held by the municipality.
(b) The ballot shall be printed to provide for voting for or against the proposition: "Use of tax increment financing for urban renewal purposes."
(c) The election may be held in conjunction with an election held under Section 374.011 or 374.012.
(d) This referendum is not required if the constitutional amendment on tax increment financing is approved by the voters.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
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