Texas § 504.202 AGREEMENT TO INVEST IN EXTRATERRITORIAL PROJECT.

Texas Statutes

§ 504.202 — AGREEMENT TO INVEST IN EXTRATERRITORIAL PROJECT.

Texas § 504.202

Code LGLocal Government Code

This text of Texas § 504.202 (AGREEMENT TO INVEST IN EXTRATERRITORIAL PROJECT.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Local Government Code Code Ann. § 504.202 (2026).

Text

Sec. 504.202. AGREEMENT TO INVEST IN EXTRATERRITORIAL PROJECT.

(a)A taxing unit may enter into an agreement with a Type A corporation to invest in a project that is undertaken by the corporation and that is not located in the territory of the taxing unit. A Type A corporation may enter into an agreement under this section with more than one taxing unit.

(b)Before entering into the agreement, the Type A corporation undertaking the project must designate a defined area that includes the territory where the project is to be located.

(c)The agreement must state the base taxable value of the property in the defined area of the project.

(d)The agreement may provide that the taxing unit is entitled to receive from the Type A corporation, in exchange for the investment, an amount equal to a sp

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Sec. 504.202. AGREEMENT TO INVEST IN EXTRATERRITORIAL PROJECT. (a) A taxing unit may enter into an agreement with a Type A corporation to invest in a project that is undertaken by the corporation and that is not located in the territory of the taxing unit. A Type A corporation may enter into an agreement under this section with more than one taxing unit.
(b) Before entering into the agreement, the Type A corporation undertaking the project must designate a defined area that includes the territory where the project is to be located.
(c) The agreement must state the base taxable value of the property in the defined area of the project.
(d) The agreement may provide that the taxing unit is entitled to receive from the Type A corporation, in exchange for the investment, an amount equal to a specified percentage of the tax revenue from taxes imposed by the corresponding taxing unit on the taxable value of the property in the defined area that exceeds the base taxable value, during the period the corresponding taxing unit imposes taxes on that property.