Tex. Loc. Gov't Code § 501.255 · Subchapter F. ADMINISTRATION BY ECONOMIC DEVELOPMENT OFFICE
APPROVAL OF LEASE, SALE, OR LOAN AGREEMENT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A lease, sale, or loan agreement entered into under this subtitle must be approved by the economic development office. The economic development office may not approve an agreement unless the office affirmatively finds that the project sought to be financed furthers the public purposes of this subtitle.
(b) The corporation may appeal an adverse ruling or decision of the economic development office under Subsection (a) to a district court of Travis County. The substantial evidence rule applies in an appeal under this subsection.
(c) A corporation:
(1) may enter into a lease, sale, or loan agreement under this subtitle without obtaining the consent or approval of any department, division, or agency of this state except as otherwise provided by this subtitle; and
(2) has full authority with respect to a lease, sale, or loan agreement, except as limited by this subtitle or by rules and guidelines of the economic development office.
Notes and commentary — not statutory text
History
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/LG/htm/LG.501.htm
- Text hash
- sha256 79776ce89062f705b63c73d6b58cca47d9d185a2f6d6d0dc2a90e01cf059d704
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Cited by 2 provisions
Provisions in this library whose text cites Tex. Loc. Gov't Code § 501.255. Each shows the citation as that text prints it.
Local Government Code
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