Texas SB878 limits economic development agreements and programs by prohibiting ad valorem tax relief and setting strict guidelines for public.

Texas SB878 amends local government codes to impose limitations on economic development agreements and programs. It prohibits municipalities and counties from granting ad valorem tax relief under these programs. The bill mandates public meetings and specific notice requirements for any proposed loans or grants, including posting details on the municipality's website. It restricts the duration of agreements to a maximum of 10 years, with a total limit of 25 years including renewals.

Texas SB878 limits economic development agreements and programs by prohibiting ad valorem tax relief and setting strict guidelines for public.

Texas SB878 amends local government codes to impose limitations on economic development agreements and programs. It prohibits municipalities and counties from granting ad valorem tax relief under these programs. The bill mandates public meetings and specific notice requirements for any proposed loans or grants, including posting details on the municipality's website. It restricts the duration of agreements to a maximum of 10 years, with a total limit of 25 years including renewals.