Texas § 501.158 PERFORMANCE AGREEMENTS.

Texas Statutes

§ 501.158 — PERFORMANCE AGREEMENTS.

Texas § 501.158

Code LGLocal Government Code

This text of Texas § 501.158 (PERFORMANCE AGREEMENTS.) 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. Local Government Code Code Ann. § 501.158 (2026).

Text

Sec. 501.158. PERFORMANCE AGREEMENTS.

(a)A corporation may not provide a direct incentive to or make an expenditure on behalf of a business enterprise under a project as defined by Subchapter C of this chapter or by Subchapter D , Chapter 505 , unless the corporation enters into a performance agreement with the business enterprise.

(b)A performance agreement between a corporation and business enterprise must:

(1)provide, at a minimum, for a schedule of additional payroll or jobs to be created or retained and capital investment to be made as consideration for any direct incentives provided or expenditures made by the corporation under the agreement; and

(2)specify the terms under which repayment must be made if the business enterprise does not meet the performance requirements specified

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Sec. 501.158. PERFORMANCE AGREEMENTS. (a) A corporation may not provide a direct incentive to or make an expenditure on behalf of a business enterprise under a project as defined by Subchapter C of this chapter or by Subchapter D , Chapter 505 , unless the corporation enters into a performance agreement with the business enterprise.
(b) A performance agreement between a corporation and business enterprise must:
(1) provide, at a minimum, for a schedule of additional payroll or jobs to be created or retained and capital investment to be made as consideration for any direct incentives provided or expenditures made by the corporation under the agreement; and
(2) specify the terms under which repayment must be made if the business enterprise does not meet the performance requirements specified in the agreement.