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(A) Pursuant to Tex. Property Tax Code, § 312.005, V.A.C.S., as amended, the city is required to deliver to the Texas Department of Commerce and to the State Comptroller before April 1 of the year following which a Reinvestment Zone is designated or a tax abatement agreement is executed a report providing all of the information required by § 312.005. The Mayor or his or her designee is established as the city liaison with the state for this purpose.
(B) Pursuant to Tex. Property Tax Code, § 312.2041, V.A.C.S., as amended, the city is required to, not later than the seventh day before the date on which it enters into a tax abatement agreement, deliver to the presiding officer of the governing body of each other taxing unit in which the property to be subject to the agreement is located a written notice that the city intends to enter into the agreement. The notice must include a copy of the proposed agreement.
(C) Passage of these tax abatement guidelines and procedures shall amend and supercede all prior guidelines of the city, if any, governing this subject, but shall not affect the validity of tax abatement agreement of the city existing as of the date of the passage of these tax abatement guidelines, criteria and procedures by the City Council.
(Ord. 641, passed 11-20-2006; Am. Ord. 715, passed 4-18-2011)