The Development Corporation Act requires all Type A and Type B corporations to file an annual report with the Texas Comptroller of Public Accounts by April 1 of each year.
The report must include:
The Comptroller also may ask for any other information required to determine the use of revenue from sales and use tax imposed under Type A or Type B to encourage economic development in the state.
The Comptroller will use this information to compile the Economic Development Corporation Report for the Legislature each biennium.
This information should not be construed as, and is not a substitute for, legal advice.
Cities are urged to consult the Texas Municipal League (TML) Handbook and their own legal counsel for any questions or interpretations of economic development laws.