Definition

Sec. 460.601. DEFINITION. In this subchapter, "tax increment" means the amount of revenue generated from ad valorem taxes, sales and use taxes imposed by a municipality under Section 321.101(a), Tax Code, or both ad valorem and sales and use taxes that are attributable to a public transportation financing area designated under this subchapter that exceeds the amount attributable to the area for the year in which the area was designated. Added by Acts 2011, 82nd Leg., R.S., Ch. 921 (S.B. 1422), Sec. 4, eff. September 1, 2011.