Title GV, Government Code

Sec. 403.605. TAXABLE VALUE OF ELIGIBLE PROPERTY. (a) The taxable value for school district maintenance and operations ad valorem tax purposes of eligible property subject to an agreement for each tax year of the incentive period prescribed by the agreement is equal to: (1) 50 pe…

Sec. 403.606. CERTAIN PERSONS INELIGIBLE. A person is not eligible to submit an application to the comptroller or enter into an agreement under this subchapter if the person is a company that is listed as ineligible to receive a state contract or investment under Chapter 808, 809…

Sec. 403.607. APPLICATION. (a) A person who proposes to construct an eligible project in a school district for which the person seeks a limitation on the taxable value for maintenance and operations ad valorem tax purposes of the district of the eligible property used as part of …

Sec. 403.608. ECONOMIC BENEFIT STATEMENT. (a) An applicant shall submit an economic benefit statement with the applicant's application. (b) An economic benefit statement must include the following information for each year of the period that begins on the date the applicant proje…

Sec. 403.609. COMPTROLLER ACTION ON APPLICATION. (a) The comptroller shall determine whether to recommend or not recommend for approval an application submitted to the comptroller under Section 403.607. The comptroller shall recommend an application for approval if the comptrolle…

Sec. 403.610. GOVERNOR ACTION ON APPLICATION. (a) The governor shall, not later than the 30th day after the date the governor receives an application sent to the governor by the comptroller under Section 403.609, consider the application and by official action determine whether t…

Sec. 403.611. SCHOOL DISTRICT ACTION ON APPLICATION. (a) The governing body of a school district shall, not later than the 30th day after the date the district receives an application sent to the district by the comptroller under Section 403.609, consider the application and by o…

Sec. 403.612. AGREEMENT. (a) The governor, the governing body of a school district, and an applicant may enter into an agreement to limit the taxable value for maintenance and operations ad valorem tax purposes of the district of the eligible property used as part of an eligible …

Sec. 403.613. INCENTIVE PERIOD. (a) An incentive period pertaining to an eligible project is a period of 10 consecutive tax years specified in the agreement pertaining to the project. (b) An incentive period may not begin: (1) earlier than January 1 of the first tax year followin…

Sec. 403.614. PENALTY FOR FAILURE TO COMPLY WITH JOBS OR WAGE REQUIREMENT. (a) An applicant is liable to the state for a penalty in the amount computed under this subsection if the applicant fails to maintain at least the number of required jobs prescribed by the agreement to whi…

Sec. 403.615. AUDIT OF AGREEMENTS BY STATE AUDITOR. (a) Each year the state auditor shall select and review at least 10 percent of the agreements in effect in that year to determine whether: (1) each agreement accomplishes the purposes of this subchapter as expressed in Section 4…

Sec. 403.616. BIENNIAL COMPLIANCE REPORT BY APPLICANT. (a) An applicant that is a party to an agreement shall submit a report to the comptroller as required by this section using the form adopted by the comptroller. (b) An applicant must submit a report required by this section t…

Sec. 403.617. BIENNIAL REPORT TO LEGISLATURE. (a) The comptroller shall submit to the lieutenant governor, the speaker of the house of representatives, and each other member of the legislature a report on the agreements entered into under this subchapter. The comptroller must sub…

Sec. 403.619. CONFLICT OF INTEREST. A person may not, directly or indirectly, represent, advise, or provide a service to both an applicant and a school district in connection with the same application submitted or agreement entered into under this subchapter. Added by Acts 2023, …

Sec. 403.620. CERTAIN BENEFITS RELATED TO AGREEMENTS PROHIBITED; ATTORNEY GENERAL ENFORCEMENT. (a) An employee or representative of a school district, a member of the governing body of the district, or any other person may not intentionally or knowingly solicit, accept, agree to …

Sec. 403.621. CONFIDENTIALITY OF CERTAIN BUSINESS INFORMATION. (a) Information provided to the comptroller, the governor, or a school district by an applicant under this subchapter that is a trade secret, as defined by Section 134A.002, Civil Practice and Remedies Code, is confid…

Sec. 403.622. INTERNET POSTING OF INFORMATION. (a) Subject to Section 403.621, the comptroller shall post on the comptroller's Internet website the following information received by the comptroller: (1) each application submitted under this subchapter; (2) each map and economic b…

Sec. 403.623. RULES AND FORMS. (a) The comptroller shall adopt rules necessary to implement and administer this subchapter, including rules for: (1) determining whether an applicant meets the jobs and investment requirements prescribed by Section 403.604; and (2) authorizing an a…

Sec. 403.651. DEFINITIONS. In this subchapter: (1) "Broadband Equity, Access, and Deployment Program" means the federal Broadband Equity, Access, and Deployment Program established by the Infrastructure Investment and Jobs Act (Pub. L. No. 117-58). (2) "Fund" means the broadband …

Sec. 403.652. LEGISLATIVE FINDINGS; PUBLIC PURPOSE. The legislature finds that: (1) the creation of the fund will meet an imperative public need and serve the economic, educational, and health care needs of this state; and (2) the use of the fund is in furtherance of the public p…

Sec. 403.653. BROADBAND INFRASTRUCTURE FUND. (a) The broadband infrastructure fund is a special fund in the state treasury outside the general revenue fund. The fund consists of: (1) money transferred or deposited to the credit of the fund by the constitution, general law, or the…

Sec. 403.654. MANAGEMENT AND INVESTMENT OF FUND. (a) In this section, "trust company" means the Texas Treasury Safekeeping Trust Company. (b) The trust company shall hold and invest the fund, and any accounts established in the fund, for the comptroller, taking into account the p…

Sec. 403.655. RULEMAKING. The comptroller may adopt rules as necessary to administer this subchapter. Added by Acts 2023, 88th Leg., R.S., Ch. 379 (H.B. 9), Sec. 1, eff. January 1, 2024. Redesignated from Government Code, Section 403.605 by Acts 2025, 89th Leg., R.S., Ch. 204 (H.…

Sec. 403.701. DEFINITIONS. In this subchapter: (1) "Tax year" and "taxing unit" have the meanings assigned by Section 1.04, Tax Code. (2) "Voter-approval tax rate" means the voter-approval tax rate for a taxing unit calculated under Chapter 26, Tax Code. Added by Acts 2025, 89th …

Sec. 403.702. BOND, TAX, AND PROJECT DATABASE. (a) The comptroller shall consult and coordinate with the Bond Review Board to develop and maintain a database of current and historical information regarding taxes imposed and bonds issued by each taxing unit in this state. (b) The …

Sec. 403.703. OPERATION AND MAINTENANCE OF DATABASE. The comptroller: (1) may consult with the appropriate officer of, or other person representing, a taxing unit to obtain the information necessary to operate and maintain the database established under this subchapter; (2) may c…

Sec. 403.704. NONCOMPLIANCE; CIVIL PENALTY. (a) If a taxing unit does not provide information to the comptroller as required by this subchapter, the comptroller shall send written notice to the taxing unit: (1) describing the information the taxing unit is required to provide to …

Sec. 403.705. RULEMAKING. (a) The comptroller may establish procedures and adopt rules necessary to implement this subchapter. (b) The comptroller shall consult and coordinate with the Bond Review Board and the Texas Education Agency to adopt rules to implement a single data sour…

Sec. 403.706. TEMPORARY TRANSFER FOR CASH MANAGEMENT. (a) The comptroller may liquidate the reserve's assets and temporarily transfer money from the reserve to the state treasury if necessary for the purposes described by Section 403.092. (b) The comptroller shall, as soon as pra…

Sec. 403.707. TEXAS STRATEGIC BITCOIN RESERVE ADVISORY COMMITTEE. (a) In this section, "committee" means the Texas Strategic Bitcoin Reserve advisory committee. (b) The committee is composed of the following five members: (1) the comptroller; (2) one member of the comptroller's i…

Sec. 403.708. BIENNIAL REPORT. Not later than December 31 of each even-numbered year, the comptroller shall publish on the comptroller's Internet website and submit to the legislature a report that includes: (1) the amount of bitcoin and other cryptocurrency held in the reserve o…

Sec. 403.709. RULES. The comptroller may adopt rules as necessary to administer this subchapter. Added by Acts 2025, 89th Leg., R.S., Ch. 957 (S.B. 21), Sec. 2, eff. June 20, 2025. Subchapter V, consisting of Secs. 403.701 to 403.705, was added by Acts 2025, 89th Leg., R.S., Ch. …

Sec. 404.001. DEFINITIONS. In this chapter: (1) Repealed by Acts 1997, 75th Leg., ch. 891, Sec. 3.22(2), eff. Sept. 1, 1997. (2) "Demand deposit" means a deposit that is payable on demand. (3) "Direct security repurchase agreement" means an agreement under which the state buys, h…

Sec. 404.0011. TRANSFER OF TREASURER'S POWERS AND DUTIES. (a) The powers and duties of the state treasurer under this chapter or other law are transferred to the comptroller. (b) A reference in law to the state treasurer is a reference to the comptroller. (c) If the state treasur…

Sec. 404.013. RULES. The comptroller may adopt and enforce rules governing the establishment and conduct of state depositories and the investment of state funds in the depositories that the public interest requires and that are not inconsistent with the law governing the deposito…

Sec. 404.021. ELIGIBLE INSTITUTIONS. (a) Any state or national bank doing business in the state may be designated by the comptroller as a state depository. Designation of a bank as a depository includes all of the bank's branches within the state. (b) Any savings and loan associa…

Sec. 404.0211. CONFLICT OF INTEREST. A bank is not disqualified from serving as a depository for funds of a state agency if: (1) an officer or employee of the agency who does not have the duty to select the agency's depository is an officer, director, or shareholder of the bank; …

Sec. 404.0212. DEPOSITORY RATING UNDER CERTAIN FEDERAL LAW. (a) In this section, "regulated financial institution" has the meaning assigned by 12 U.S.C. Section 2902. (b) A regulated financial institution that accepts a deposit from the comptroller shall report to the comptroller…

Sec. 404.022. APPLICATIONS. (a) The comptroller, not later than the first business day in May of each odd-numbered year, shall notify eligible institutions of the conditions with which applicants for designation as a state depository must comply. The comptroller shall keep on fil…

Sec. 404.0221. ELIGIBLE COLLATERAL. (a) In this section, "public agency" means a board, authority, agency, department, commission, political subdivision, municipal corporation, district, public corporation, body politic, instrumentality of this state, or any other type of politic…

Sec. 404.023. DESIGNATION. The comptroller shall designate one or more state depository banks that have main offices or branches in centrally located cities in this state to be used for clearing checks and other obligations due the state. Acts 1987, 70th Leg., ch. 147, Sec. 1, ef…

Sec. 404.024. AUTHORIZED INVESTMENTS. (a) The comptroller may determine and designate the amount of state funds to be deposited in time deposits in state depositories. The percentage of state funds to be deposited in state depositories shall be based on the interest rates availab…

Sec. 404.0241. INVESTMENT OF CERTAIN ECONOMIC STABILIZATION FUND BALANCES. (a) Subject to Subsection (b) and notwithstanding Section 404.024, for the purpose of investing the assets of the economic stabilization fund, the comptroller may acquire, exchange, sell, supervise, manage…

Sec. 404.0242. INVESTMENT IN WINDSTORM CATASTROPHE FINANCING ARRANGEMENTS. (a) The comptroller shall invest certain economic stabilization fund balances to provide a financing arrangement for losses of the Texas Windstorm Insurance Association in accordance with this section and …

Sec. 404.0245. CRUDE OIL AND NATURAL GAS FUTURES CONTRACTS. (a) In this section, "hedging" means the buying and selling of crude oil and natural gas commodity futures or options on crude oil and natural gas commodity futures as a protection against loss due to price fluctuations.…

Sec. 404.026. ELEEMOSYNARY FUNDS. The comptroller may invest the permanent funds of the Texas School for the Blind and Visually Impaired, Texas School for the Deaf, Austin State Hospital, and Corsicana State Home and may invest other permanent funds, the investment of which is no…