In this subchapter:
- (1) "Base taxable value" means the taxable value of property located in the defined area of a project as of January 1 of the year in which the agreement is entered into under Section 504.202.
(2) "Corresponding taxing unit" means another taxing unit that:
- (A) is of the same type of political subdivision as a taxing unit that enters into an agreement under Section 504.202; and
- (B) taxes property located in the defined area of a project that is the subject of the agreement.
- (3) "Taxing unit" has the meaning assigned by Section 1.04, Tax Code.
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.