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Texas Proposition 3, Municipal Tax Increment Financing Amendment (1978)
| Texas Proposition 3 | |
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| Election date |
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| Topic Bond issues |
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| Status |
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| Type Legislatively referred constitutional amendment |
Origin |
Texas Proposition 3 was on the ballot as a legislatively referred constitutional amendment in Texas on November 7, 1978. It was defeated.
A "yes" vote supported the amendment to authorize cities and towns to issue bonds to help in the redevelopment of blighted areas in a tax increment financing scheme. This amendment would also bar cities and towns from using revenue other than that collected through the tax increment financing scheme from being used to repay tax increment bonds. |
A "no" vote opposed the amendment to authorize cities and towns to issue bonds to help in the redevelopment of blighted areas in a tax increment financing scheme. This amendment would also bar cities and towns from using revenue other than that collected through the tax increment financing scheme from being used to repay tax increment bonds. |
Election results
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Texas Proposition 3 |
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| Result | Votes | Percentage | ||
| Yes | 818,439 | 48.24% | ||
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878,111 | 51.76% | ||
Text of measure
Ballot title
The ballot title for Proposition 3 was as follows:
| “ | To grant the legislature the power to authorize cities and towns to issue bonds to finance redevelopment of certain blighted areas. | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
- See also: Amending the Texas Constitution
A two-thirds vote was needed in each chamber of the Texas State Legislature to refer the constitutional amendment to the ballot for voter consideration.
The constitutional amendment was introduced into the Texas State Legislature as Senate Joint Resolution 44 during the 65th regular legislative session in 1977.[1]
See also
External links
Footnotes
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State of Texas Austin (capital) |
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