Sec. 3933.007. 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; or
(3) an enterprise zone created under Chapter 2303, Government Code.
(b) If the county or a municipality in the county creates a tax increment reinvestment zone described by Subsection (a), the county or municipality 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.
(c) If the county or a municipality in the county creates a tax increment reinvestment zone described by Subsection (a), the county or municipality may determine the percentage of the property in the zone that may be used for residential purposes and is not subject to the limitations provided by Section 311.006, Tax Code.
Added by Acts 2015, 84th Leg., R.S., Ch. 1239 (H.B. 4155), Sec. 1, eff. September 1, 2015.
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