Ad Valorem

§ 313.101. DEFINITION.

Text of sections effective until December 31, 2007

In this subchapter, "qualifying time period" has the meaning
assigned by Section 313.021.

Added by Acts 2001, 77th Leg., ch. 1505, § 1, eff. Jan. 1, 2002.


§ 313.102. ELIGIBILITY FOR TAX CREDIT; AMOUNT OF
CREDIT.

Text of section effective until December 31, 2007

(a) In addition to the limitation on the appraised value of
the person's qualified property under Subchapter B or C, a person is
entitled to a tax credit from the school district that approved the
limitation in an amount equal to the amount of ad valorem taxes paid
to that school district that were imposed on the portion of the
appraised value of the qualified property that exceeds the amount
of the limitation agreed to by the governing body of the school
district under Section 313.027(a)(2) in each year in the applicable
qualifying time period.
(b) If the person relocates the person's business outside
the school district, the person is not entitled to the credit in or
after the year in which the relocation occurs.

Added by Acts 2001, 77th Leg., ch. 1505, § 1, eff. Jan. 1, 2002.


§ 313.103. APPLICATION.

Text of section effective until December 31, 2007

An application for a tax credit under this subchapter must be
made to the governing body of the school district to which the ad
valorem taxes were paid. The application must be:
(1) made on the form prescribed for that purpose by the
comptroller and verified by the applicant;
(2) accompanied by:
(A) a tax receipt from the collector of taxes for
the school district showing full payment of school district ad
valorem taxes on the qualified property for the applicable
qualifying time period; and
(B) any other document or information that the
comptroller or the governing body considers necessary for a
determination of the applicant's eligibility for the credit or the
amount of the credit; and
(3) filed before September 1 of the year immediately
following the applicable qualifying time period.

Added by Acts 2001, 77th Leg., ch. 1505, § 1, eff. Jan. 1, 2002.


§ 313.104. ACTION ON APPLICATION; GRANT OF CREDIT.

Text of section effective until December 31, 2007

Before the 90th day after the date the application for a tax
credit is filed, the governing body of the school district shall:
(1) determine the person's eligibility for a tax
credit under this subchapter; and
(2) if the person's application is approved, by order
or resolution direct the collector of taxes for the school
district:
(A) in the second and subsequent six tax years
that begin after the date the application is approved, to credit
against the taxes imposed on the qualified property by the district
in that year an amount equal to one-seventh of the total amount of
tax credit to which the person is entitled under Section 313.102,
except that the amount of a credit granted in any of those tax years
may not exceed 50 percent of the total amount of ad valorem school
taxes imposed on the qualified property by the school district in
that tax year; and
(B) in the first tax year that begins on or after
the date the person's eligibility for the limitation under
Subchapter B or C expires, to credit against the taxes imposed on
the qualified property by the district an amount equal to the
portion of the total amount of tax credit to which the person is
entitled under Section 313.102 that was not credited against the
person's taxes under Paragraph (A) in a tax year covered by
Paragraph (A), except that the amount of a tax credit granted under
this paragraph in any tax year may not exceed the total amount of ad
valorem school taxes imposed on the qualified property by the
school district in that tax year.

Added by Acts 2001, 77th Leg., ch. 1505, § 1, eff. Jan. 1, 2002.


§ 313.105. REMEDY FOR ERRONEOUS CREDIT.

Text of section effective until December 31, 2007

(a) If the comptroller and the governing body of a school
district determine that a person who received a tax credit under
this subchapter for any reason was not entitled to the credit
received or was entitled to a lesser amount of credit than the
amount of the credit received, an additional tax is imposed on the
qualified property equal to the full credit or the amount of the
credit to which the person was not entitled, as applicable, plus
interest at an annual rate of seven percent calculated from the date
the credit was issued.
(b) A tax lien attaches to the qualified property in favor
of the school district to secure payment by the person of the
additional tax and interest imposed by this section and any
penalties incurred. A person delinquent in the payment of an
additional tax under this section may not submit a subsequent
application or receive a tax credit under this subchapter in a
subsequent year.

Added by Acts 2001, 77th Leg., ch. 1505, § 1, eff. Jan. 1, 2002.

SUBCHAPTER E. AVAILABILITY OF TAX CREDIT AFTER PROGRAM EXPIRES



§ 313.171. SAVING PROVISIONS. (a) A limitation on
appraised value approved under Subchapter B or C before the
expiration of that subchapter continues in effect according to that
subchapter as that subchapter existed immediately before its
expiration, and that law is continued in effect for purposes of the
limitation on appraised value.
(b) The expiration of Subchapter D does not affect a
property owner's entitlement to a tax credit granted under
Subchapter D if the property owner qualified for the tax credit
before the expiration of............