Relating to the operation and dissolution of the Lubbock Reese Redevelopment Authority and to agreements between Texas Tech University and the authority.
Impact
By refining the powers and responsibilities of the Lubbock Reese Redevelopment Authority, SB2694 intends not only to bolster economic activity and development in the region but also to ensure that critical infrastructure projects can be undertaken efficiently. The authority will have increased autonomy in managing properties and financial activities, as well as enhanced capabilities to enter into agreements facilitating research and development partnerships with Texas Tech University, which could foster innovation in national security-related technology.
Summary
SB2694 proposes to regulate the operation and eventual dissolution of the Lubbock Reese Redevelopment Authority. The bill outlines specific amendments to the Special District Local Laws Code that will enable the authority to manage and develop projects that contribute to industrial and business development on the property of the former Reese Air Force Base. Additionally, it emphasizes collaboration with Texas Tech University to facilitate research related to national security and critical infrastructure, embedding significant importance on technology within these fields.
Contention
Some points of contention surrounding SB2694 may arise from the geneation of local authority versus state control, as it shifts the focus toward centralized management through the Lubbock Reese Redevelopment Authority. Additionally, opposition may hinge on concerns relating to the dissolution process, specifically how the transfer of property and assets to Texas Tech University or the City of Lubbock is executed. There is also potential controversy surrounding the allocation of funds and the long-term implications this development may pose for local governance and resource management.
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 the approval and creation of the Williamson County Development District No. 1; and to the administration, powers, duties, operation, and financing of the district, including the authority to impose an assessment, a tax, and issue bonds.
Relating to the operation and dissolution of the Lubbock Reese Redevelopment Authority and to agreements between Texas Tech University and the authority.