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Definitions. The following phrases, words and terms, when used in this section, shall have the following meanings, unless the context clearly indicates otherwise. (1)Agreement--the written agreement between the governing body of a school district and the property owner to implement a limitation on the appraised value of qualified property, required by Tax Code, §313.027(d). (2)Applicant--a person or an "affiliated group," as defined in Tax Code, §171.0001, who has applied for a limitation of appraised value on qualified property as provided by Tax Code, Chapter 313, and is subject to Tax Code, Chapter 171. (3)Application--the Application for Appraised Value Limitation on Qualified Property, adopted by reference in §9.1052 of this title (relating to Forms). (4)Application review period--the period of time during which the governing body of a school district is required to consider and approve or disapprove an Application for Appraised Value Limitation on Qualified Property. The application review period begins on the day an Application for Appraised Value Limitation on Qualified Property is filed with a school district and ends on the 120th day after the date on which the application is filed. (5)Appraised Value--the value of property as defined by Tax Code, §1.04(8). (6)Qualified investment--property that meets the requirements of Tax Code, §313.021(1) (7)Qualified property--property that meets the requirements of Tax Code, §313.021(2), and that is used either as an integral part, or as a necessary auxiliary part, in manufacturing, research and development, a clean coal project, an advanced clean energy project, renewable energy electric generation, electric power generation using integrated gasification combined cycle technology, or nuclear electric power generation. (8)Tax credit settle-up--the process by which tax credit amounts earned by a Chapter 313 recipient which are not paid during the value limitation period are paid following the expiration of the value limitation.
This agency hereby certifies that the adoption has
been reviewed by legal counsel and found to be a valid exercise of
the agency's legal authority.
Filed with the Office
of the Secretary of State on December 20, 2007
TRD-200706547 Martin Cherry
General Counsel
Comptroller of
Public Accounts
Effective date: January 9, 2008
Proposal publication date: November 9, 2007
For further information, please call: (512) 475-0387
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