79th Texas Legislature, Regular Session, Senate Bill 771, Chapter 1347 Page: 6 of 8
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S.B. No. 771
1 municipality that the municipality is required to pay into the tax
2 increment fund for the zone. If a municipality does not determine
3 the portion of the tax increment produced by the municipality that
4 the municipality is required to pay into the tax increment fund for
5 a reinvestment zone, the municipality is required to pay into the
6 fund for the zone the entire tax increment produced by the
7 municipality, except as provided by Subsection (b)(1).
8 (m) The governing body of a municipality that is located in
9 a county with a population of more than 1.4 million but less than
10 2.1 million or in a county with a population of 3.3 million or more
11 by ordinance may reduce the portion of the tax increment produced by
12 the municipality that the municipality is required to pay into the
13 tax increment fund for the zone. The municipality may not reduce
14 under this subsection the portion of the tax increment produced by
15 the municipality that the municipality is required to pay into the
16 tax increment fund for the zone unless the municipality provides
17 each county that has entered into an agreement with the
18 municipality to pay all or a portion of the county's tax increment
19 into the fund an opportunity to enter into an agreement with the
20 municipality to reduce the portion of the tax increment produced by
21 the county that the county is required to pay into the tax increment
22 fund for the zone by the same proportion that the portion of the
23 municipality's tax increment that the municipality is required to
24 pay into the fund is reduced. The portion of the tax increment
25 produced by a municipality that the municipality is required to pay
26 into the tax increment fund for a reinvestment zone, as reduced by
27 the ordinance adopted under this subsection, together with all6
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Texas. Legislature. Senate. 79th Texas Legislature, Regular Session, Senate Bill 771, Chapter 1347, legislative document, June 18, 2005; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth157884/m1/6/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.