Texas HB2878 allows certain tax increment financing reinvestment zones to use revenue for educational facilities.

Texas HB2878 amends the Tax Code to allow municipalities and counties to use revenue from tax increment funds in specific reinvestment zones for educational purposes. This applies to zones created after January 1, 2005, larger than 500 acres, containing a donated property over 20 acres for school facilities, and with an agreement to pay tax increment into the fund. These zones can dedicate fund revenue for school facility acquisition, construction, or reconstruction, or contract with school districts for facility financing, with costs covered by tax increment.

Texas HB2878 allows certain tax increment financing reinvestment zones to use revenue for educational facilities.

Texas HB2878 amends the Tax Code to allow municipalities and counties to use revenue from tax increment funds in specific reinvestment zones for educational purposes. This applies to zones created after January 1, 2005, larger than 500 acres, containing a donated property over 20 acres for school facilities, and with an agreement to pay tax increment into the fund. These zones can dedicate fund revenue for school facility acquisition, construction, or reconstruction, or contract with school districts for facility financing, with costs covered by tax increment.