Desarrollo Económico Rural y Límite de Impuestos en Texas

(Added Nov. 6, 2001; Subsec. (e) expired Jan. 1, 2003.) Statute text rendered on: 6/2/2024 - 205 - THE TEXAS CONSTITUTION Sec. 1-o. RURAL ECONOMIC DEVELOPMENT; LIMITATION ON AD VALOREM TAX INCREASE. To aid in the elimination of slum and blighted conditions in less populated communities in this state, to promote rural economic development in this state, and to improve the economy of this state, the legislature by general law may authorize the governing body of a municipality having a population of less than 10,000, in the manner required by law, to call an election to permit the voters to determine by majority vote whether to authorize the governing body of the municipality to enter into an agreement with an owner of real property that is located in or adjacent to a designated area of the municipality that has been approved for funding under the Downtown Revitalization Program or the Main Street Improvements Program administered by the Department of Agriculture, or a successor program administered by that agency, under which the parties agree that the ad valorem taxes imposed by any political subdivision on the owner's real property may not be increased for the first five tax years after the tax year in which the agreement is entered into, subject to the terms and conditions provided by the agreement. A general law enacted under this section must provide that, if authorized by the voters, an agreement to limit ad valorem tax increases authorized by this section: (1) must be en