Sec. 3827.157.  TAX INCREMENT REINVESTMENT ZONE; POWERS; ELIGIBILITY.  (a)  Without further authorization or procedural requirement, the district is a tax increment reinvestment zone under Chapter 311, Tax Code.
(b)  The district has all powers provided under Chapter 311, Tax Code.
(c)  The district and an overlapping taxing unit may enter into an interlocal agreement for the payment of all or a portion of the tax increment of the unit to the district.
(d)  The base year value of the district, for tax increment financing purposes, is the value as of January 1, 2003, of all taxable real property in the district as shown on the certified tax rolls of the central appraisal district.
(e)  All or any part of the area of the district is eligible to be included in a tax increment reinvestment zone created by the City of Katy under Chapter 311, Tax Code.
Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.03, eff. April 1, 2007.