Texas § 481.502 FINANCIAL ASSISTANCE.

Texas Statutes

§ 481.502 — FINANCIAL ASSISTANCE.

Texas § 481.502

Code GVGovernment Code

This text of Texas § 481.502 (FINANCIAL ASSISTANCE.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Government Code Code Ann. § 481.502 (2026).

Text

Sec. 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 sh

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 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.

Legislative History

Added by Acts 2003, 78th Leg., ch. 362, Sec. 1, eff. June 18, 2003. Amended by: Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278 ), Sec. 3.07, eff. April 1, 2009. Acts 2009, 81st Leg., R.S., Ch. 43 (H.B. 2546 ), Sec. 16, eff. September 1, 2009. Acts 2015, 84th Leg., R.S., Ch. 330 (S.B. 1358 ), Sec. 14, eff. September 1, 2015.