Texas Water Code
§ 49.2291 — DONATIONS FOR ECONOMIC DEVELOPMENT
WA § 49.2291Title 4. GENERAL LAW DISTRICTS · Ch. 49. PROVISIONS APPLICABLE TO ALL DISTRICTS · Art. H. POWERS AND DUTIES
Statute text
View on source(a)In this section, "economic development program" has the meaning assigned by Section 152.151.
(b)This section applies only to a district located in the unincorporated area of a county with a population of four million or more.
(c)A district may accept a donation in any form from any source approved by the board to provide funds to a nonprofit organization providing economic development programs that the board determines will preserve property values in the district.
(d)A contract with a nonprofit organization providing economic development programs described by Subsection (c) may include the specific uses of donations collected by the district on behalf of the nonprofit organization under this section.
(e)A contract entered into under Subsection (d) must require the nonprofit organization administering the program to:
(1)maintain accounting records and funds independent of all other funds unrelated to the program;
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Legislative history
Added by Acts 2015, 84th Leg., R.S., Ch. 780 (H.B. 2528), Sec. 1, eff. June 17, 2015.