Early on in GOVT 2306 - in the discussion on local governments - the concept of a Tax Increment Reinvestment Zone is introduced. Simply put, its a funding mechanism - a political subdivision - that allows a defined area within a city to collect funds for projects that improve that area. These are mostly used to enhance the economic and viability of the area.
The Houston Press writes up recent controversies over the recent use of TIRZs.
- Click here for the article.
It also points out recent - unsuccessful - efforts to modify them in the 84th Legislature. The power to establish these zones dates back to the Legislative session that met in the spring of 1987 and the passage of the Tax Increment Financing Act - which is now found in the Texas Tax Code, Title 3, Subtitle B, Chapter 311.
For more on the concept of tax increment financing:
- Wikipedia: Tax increment financing.
- Wikipedia: Tax Increment Reinvestment Zone.
And more on the use of TIRz's in Houston:
- What is a TIRZ?
- Not-so-super-TIRZ.
- TIRZ funds create predicament for cash-hungry city.
- Houston's TIRZ Explosion.
