(a) An applicant, the governor and the governing body of the applicable school district must mutually agree to enter into an agreement for limitation on taxable value of eligible property that includes the requisite terms in Government Code, §403.604 and §403.612.
(b) An applicant must satisfy the criteria required to enter in a contract with the state of Texas.
(c) The agreement must be based on information from an application that was recommended for approval by the comptroller.
(d) The agreement must comply with all applicable rules, regulations and statutes.

Source Note: The provisions of this §9.5005 adopted to be effective January 16, 2024, 49 TexReg 134