81st Texas Legislature, Regular Session, Senate Bill 1540, Chapter 85 Page: 84 of 126
126 p.View a full description of this legislative document.
Extracted Text
The following text was automatically extracted from the image on this page using optical character recognition software:
SS.B. No. 1540
1 ( id) The agreement may establish one or more transportation
2 infrast ucture zones. The district and the local government may
3 agree tat, at one or more specified times, the local government
4 will pay to the district an amount that is calculated on the basis
5 of i ncreased ad valorem tax collections in a zone that Are
6 at ributable to increased values of property located in the zone
7 resulting from an infrastructure project. The amount may not
8 exceed an amount that is equal to 30 percent of the increase in ad
9 valorem tax collections for the specified period.
10 (e) Money received by the district under this section may be
11 used::
12 (1) to provide a local match for the acquisition of
13 right-of-way in the territory of the local government; or
14 (2) for design, construction, operation, or
15 maintenance of transportation facilities in the territory of the
16 local government. (V.A.C.S. Art. 6550c-1, Sec. 8.)
17 Sec. 173.257. TAX EXEMPTION. District property, material
18 purchases, revenue, and income and the interest on bonds and notes
19 isued by the district are exempt from any tax imposed by this state
20 or ,olitical subdivision of this state. (V.A.C.S. Art. 6550c-1,
21 Sec .7.)
22 [Sections 173.258-173.300 reserved for expansion]
23 SUBCHAPTERG. BONDS
24 ISec. 173.301. REVENUE BONDS. A district may issue revenue
25 bodsand notes in amounts that the board considers necessary or
26 appropriate for the acquisition, purchase, construction,
27 reconstruction, repair, equipping, improvement, or extension of
I
Upcoming Pages
Here’s what’s next.
Search Inside
This document can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Legislative Document.
Texas. Legislature. Senate. 81st Texas Legislature, Regular Session, Senate Bill 1540, Chapter 85, legislative document, May 20, 2009; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth310917/m1/84/: accessed April 20, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.