Tax Abatement Reinvestment Zone Based Section 312 Continues if 312 Expires

Texas Property Code 2023 Chapter 320

Tax abatement and reinvestment agreements entered into prior to the expiration of Chapter 320 remain valid and in effect in the event Chapter 320 is cancelled.

Texas Property Tax Code
2023 Edition
Texas Comptroller of Public Accounts

The statutes available on this website are current through the 88th 2nd Called Legislative Session, 2023. The constitutional provisions found on this website are current through the amendments approved by voters in May 2022.

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TITLE 3. LOCAL TAXATION

SUBTITLE B. SPECIAL PROPERTY TAX PROVISIONS

CHAPTER 320. MISCELLANEOUS PROVISIONS

Sec. 320.001. SAVING PROVISION AFTER EXPIRATION OF CHAPTER 312.

The expiration of Chapter 312 under Section 312.006 does not affect the validity of a reinvestment zone designated or a tax abatement agreement executed before the expiration of Chapter 312. A reinvestment zone designated or a tax abatement agreement executed before the expiration of Chapter 312 under Section 312.006 is governed by the applicable law in effect immediately before the expiration of Chapter 312, except that the designation of an existing reinvestment zone may not be renewed after the expiration of Chapter 312. A tax abatement agreement in effect when Chapter 312 expires may be extended as provided by the law in effect immediately before the expiration of Chapter 312. A tax abatement agreement executed after the expiration of Chapter 312 may not be extended.

Added by Acts 1989, 71st Leg., ch. 1137, Sec. 14, eff. Sept. 1, 1989.

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