Tex. Gov't Code § 481.502

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 481.502 - Financial Assistance

(a) The office and the Texas Military Preparedness Commission shall assist defense communities in obtaining financing for economic development projects that seek to address future realignment or closure of a defense base that is in, adjacent to, or near the defense community. The office shall refer the defense community to:

(1) a local economic development corporation created under the Development Corporation Act (Subtitle C1, Title 12, Local Government Code) for possible financing; or

(2) an appropriate state agency that has an existing program to provide financing for the project, including:

(A) the Texas Water Development Board; or

(B) the Texas Department of Transportation.

(b) A state agency making a loan to a defense community under this section shall evaluate the project and determine whether the project may be financed through the agency's program. The state agency has sole discretion on whether to finance the project.

(c) Expired.

Tex. Gov't. Code § 481.502

Amended by Acts 2015, Texas Acts of the 84th Leg. - Regular Session, ch. 330,Sec. 14, eff. 9/1/2015.

Amended By Acts 2009, 81st Leg., R.S., Ch. 43, Sec. 16, eff. 9/1/2009.

Amended By Acts 2007, 80th Leg., R.S., Ch. 885, Sec. 3.07, eff. 4/1/2009.

Added by Acts 2003, 78th Leg., ch. 362, Sec. 1, eff. 6/18/2003.