Section 2310.111 - Removal of Designation(a) The bank may remove the designation of an area as a readjustment zone if: (1) the area no longer meets the criteria for designation under this chapter or by rule of the office adopted under this chapter; or(2) the bank determines that the governing body of the readjustment zone has not complied with commitments made in the ordinance or order nominating the area as a readjustment zone.(b) The removal of a designation does not affect the validity of a tax incentive or regulatory relief granted or accrued before the removal.Tex. Gov't. Code § 2310.111
Amended by Acts 2003, 78th Leg., ch. 814, Sec. 3.38, eff. 9/1/2003.