Section 501.007 - Lending Credit or Granting Public Money(a) Except as provided by Subsection (b), a unit may not lend its credit or grant public money or another thing of value in aid of a corporation.(b) A municipality may grant public money to a corporation under a contract authorized by Section 380.002.(c) The grants, loans, expenditures, and tax exemptions authorized by this subtitle in connection with a project and authorized by a corporation in accordance with this subtitle constitute the making of loans or grants of public money or constitute other actions authorized by Section 52-a, Article III, Texas Constitution.Tex. Loc. Gov't. Code § 501.007
Amended By Acts 2009, 81st Leg., R.S., Ch. 87, Sec. 15.011(a), eff. 9/1/2009.Added by Acts 2007, 80th Leg., R.S., Ch. 885, Sec. 3.01, eff. 4/1/2009.