Relating to the operation and dissolution of the Lubbock Reese Redevelopment Authority and to agreements between Texas Tech University and the authority.
Impact
The potential impact of HB 5092 extends to changes in the authority's operational strategy and its governance structure. Initially established to support redevelopment and industry development in Lubbock, the authority is now directed to collaborate closely with Texas Tech University in enhancing educational and industrial capabilities. The bill emphasizes creating an environment conducive to developing national security-related technologies and supporting significant infrastructure that would benefit local economic growth and sustainability. By clarifying the roles, duties, and distribution of assets, the legislation aims to streamline operations during the transition phase as the authority dissolves.
Summary
House Bill 5092 focuses on the operation and planned dissolution of the Lubbock Reese Redevelopment Authority in conjunction with Texas Tech University. The bill aims to facilitate collaboration between the authority and the university to spur industrial, commercial, and business development within the area formerly known as Reese Air Force Base. It sets the framework for the authority to manage critical infrastructure projects and to conduct research relevant to national security and other technological advancements. Furthermore, the bill outlines the manner in which property and assets of the authority are to be transferred to Texas Tech University upon its dissolution, which is marked for September 1, 2025.
Sentiment
Generally, the sentiment around HB 5092 appears supportive among legislative members, with a documented substantial majority in favor during voting sessions—114 in favor and only 21 against. The collaborative nature of the bill between state entities has been positively received, indicating a unified approach to tackling economic development in the region. Despite this support, there may be concerns regarding the implications of centralizing such operations and the effectiveness of the transition once the authority is dissolved, which could provide points of contention for some stakeholders involved.
Contention
While the overall aim of HB 5092 is to enhance economic revitalization efforts through collaboration, the dissolution of the Lubbock Reese Redevelopment Authority raises questions about future governance and representation in decision-making processes. Critics may argue that such centralization could limit local input or oversight in how redevelopment projects are prioritized and managed post-dissolution. Additionally, flipping the governance structure might provoke concerns about ensuring accountability and transparency as the property and responsibilities are transferred to Texas Tech University and potentially to the City of Lubbock.
Identical
Relating to the operation and dissolution of the Lubbock Reese Redevelopment Authority and to agreements between Texas Tech University and the authority.
Relating to agreements authorizing a limitation on taxable value of certain property to provide for the creation of jobs and the generation of state and local tax revenue; authorizing fees; authorizing penalties.
Relating to the establishment of the Texas Mircale Act (TMA), allowing for certain fees, authorizing certain ad valorem tax incentives for economic development, specifically certain tax relief from school district taxes for certain corporations and limited liability companies that make large investments that create jobs in this state, to authorizing the imposition of certain fees, and the repeal of Chapter 313 of Texas Tax Code and the Economic Development Act of the 77th Legislature.
Relating to the creation of the Northeast Houston Redevelopment District; providing authority to issue bonds; providing authority to impose assessments or fees.
Relating to the creation of the Presidio International Port Authority District; providing authority to issue bonds; providing authority to impose assessments, fees, and taxes.
Relating to the creation of the Presidio International Port Authority District; providing authority to issue bonds; providing authority to impose assessments, fees, and taxes.
Relating to the creation of the Dallas Municipal Management District; providing authority to issue bonds; providing authority to impose assessments and fees.
Relating to the creation of the Dallas Municipal Management District; providing authority to issue bonds; providing authority to impose assessments and fees.
Relating to measures to address public safety threats in this state presented by transnational criminal activity, including by establishing the Texas Homeland Security Division and the Border Security Advisory Council, and to compensate persons affected by those threats.
Relating to the operation and dissolution of the Lubbock Reese Redevelopment Authority and to agreements between Texas Tech University and the authority.