Texas Tax Code § 312.403 Tax Abatement Agreement For Nuclear Electric Power Generation Facility In County Reinvestment Zone

Sec. 312.403. TAX ABATEMENT AGREEMENT FOR NUCLEAR ELECTRIC POWER GENERATION FACILITY IN COUNTY REINVESTMENT ZONE. (a) In this section, "nuclear electric power generation" has the meaning assigned by Section 313.024(e).

(b) An agreement made under this subchapter with the owner of property that is a nuclear electric power generation facility may include a provision that defers the effective date of the agreement to a later date agreed to by the taxing unit and the owner of the property, but not later than the seventh anniversary of the date the agreement is made.

(c) If the effective date of an agreement is deferred under Subsection (b), the agreement may have a term ending not later than 10 years after the effective date of the agreement, notwithstanding Sections 312.204 and 312.208.

Added by Acts 2007, 80th Leg., R.S., Ch. 1262 (H.B. 2994), Sec. 1, eff. June 15, 2007.

Section: Previous  312.2011  312.202  312.203  312.204  312.2041  312.205  312.206  312.207  312.208  312.209  312.210  312.211  312.401  312.4011  312.402

Last modified: September 28, 2016