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Amend CSHB 3390 by adding the following appropriately numbered SECTION to the bill and renumbering subsequent SECTIONS of the bill accordingly:
SECTION ____. Section 311.014, Tax Code, is amended by adding Subsection (f) to read as follows:
(f) Money in the tax increment fund for a reinvestment zone may be transferred to the tax increment fund for an adjacent zone if:
(1) the taxing units that participate in the zone from which the money is to be transferred participate in the adjacent zone and vice versa;
(2) each participating taxing unit has agreed to deposit the same portion of its tax increment in the fund for each zone;
(3) each participating taxing unit has agreed to the transfer; and
(4) the holders of any tax increment bonds or notes issued for the zone from which the money is to be transferred have agreed to the transfer.