Tex.
Local Gov't Code Section 502.151
Report to Comptroller
(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 (Type a Corporations) or 505 (Type B Corporations) 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.
Source:
Section 502.151 — Report to Comptroller, https://statutes.capitol.texas.gov/Docs/LG/htm/LG.502.htm#502.151 (accessed May 11, 2024).
