Tex. Transp. Code § 21.105 · Subchapter C. AVIATION FACILITIES DEVELOPMENT AND FINANCIAL ASSISTANCE
REQUIREMENTS FOR LOAN OR GRANT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The commission may not approve a loan that bears interest of less than three percent annually or that has a term that exceeds 20 years.
(b) Before approving a loan or grant, the commission shall require that:
(1) the airport or facility remain in the control of each political subdivision involved for at least 20 years;
(2) the political subdivision disclose the source of all funds for the project and the political subdivision's ability to finance and operate the project;
(3) at least:
(A) 10 percent of the total project cost be provided by sources other than the state; or
(B) if the airport is located in an economically disadvantaged county, as defined by Section 222.053, five percent of the total project cost be provided by sources other than the state; and
(4) the project be adequately planned.
Notes and commentary — not statutory text
History
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
Amended by:
Acts 2025, 89th Leg., R.S., Ch. 663 (H.B. 4520), Sec. 1, eff. September 1, 2025.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/TN/htm/TN.21.htm
- Text hash
- sha256 43554d66b1c03b7dc74e9af71afd9187911731088496369b6f257095e8b212cf
- 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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