Tex. Loc. Gov't Code § 502.151 · Subchapter D. REPORTING REQUIREMENTS
REPORT TO COMPTROLLER.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Not later than April 1 of each year, the board of directors of a corporation shall submit a report to the comptroller that includes:
(1) a statement of:
(A) the corporation's primary economic development objectives;
(B) the corporation's total revenue during the preceding fiscal year;
(C) the corporation's total expenditures during the preceding fiscal year; and
(D) the corporation's total expenditures during the preceding fiscal year in each of the following categories:
(i) administration;
(ii) personnel;
(iii) marketing or promotion;
(iv) direct business incentives;
(v) job training;
(vi) debt service;
(vii) capital costs;
(viii) affordable housing; and
(ix) payments to taxing units, including school districts;
(2) a list of the corporation's capital assets, including land and buildings; and
(3) any other information the comptroller requires to determine the use of the sales and use tax imposed under Chapter 504 or 505 to encourage economic development in this state.
(b) The report:
(1) must be in the form required by the comptroller; and
(2) may not exceed one page.
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.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 3 (S.B. 450), Sec. 1, eff. September 1, 2019.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/LG/htm/LG.502.htm
- Text hash
- sha256 a3b210dbb6d3a301d5ac94da16ecfe614ae17e0c312a055218afb0a2ff3117a2
- 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
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