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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) A municipality may not use the tax increment method of financing prescribed under this subchapter unless a majority of the qualified voters of the municipality voting on the question approve that method of financing in an election held by the municipality.
(b) The ballot shall be printed to provide for voting for or against the proposition: “Use of tax increment financing for urban renewal purposes.”
(c) The election may be held in conjunction with an election held under Section 374.011 or 374.012.
(d) This referendum is not required if the constitutional amendment on tax increment financing is approved by the voters.
Cite this article: FindLaw.com - Texas Local Government Code - LOC GOV'T § 374.031. Election Required - last updated January 01, 2024 | https://codes.findlaw.com/tx/local-government-code/loc-gov-t-sect-374-031/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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