Texas Transportation Code

§ 21.105 — REQUIREMENTS FOR LOAN OR GRANT

TN § 21.105Title 3. AVIATION · Ch. 21. ADMINISTRATION OF AERONAUTICS · Art. C. AVIATION FACILITIES DEVELOPMENT AND FINANCIAL ASSISTANCE

Statute text

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(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

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Legislative history

Acts 2025, 89th Leg., R.S., Ch. 663 (H.B. 4520), Sec. 1, eff. September 1, 2025.