Texas § LG.501.158 - PERFORMANCE AGREEMENTS
Full text of Texas The Texas Constitution § LG.501.158 — PERFORMANCE AGREEMENTS, with citation guidance and answers to common questions.
§ LG.501.158. PERFORMANCE AGREEMENTS
PERFORMANCE AGREEMENTS. (a) A corporation may not provide a direct incentive to or make an expenditure on behalf of a business enterprise under a project as defined by Subchapter C of this chapter or by Subchapter D , Chapter 505 , unless the corporation enters into a performance agreement with the business enterprise. (b) A performance agreement between a corporation and business enterprise must: (1) provide, at a minimum, for a schedule of additional payroll or jobs to be created or retained and capital investment to be made as consideration for any direct incentives provided or expenditures made by the corporation under the agreement; and (2) specify the terms under which repayment must be made if the business enterprise does not meet the performance requirements specified in the agreement. Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278 ), Sec. 3.01, eff. April 1, 2009.
Frequently Asked Questions About Texas § LG.501.158
What does The Texas Constitution § LG.501.158 cover?
Section LG.501.158 ("PERFORMANCE AGREEMENTS") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § LG.501.158?
A common citation format is "The Texas Constitution § LG.501.158" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § LG.501.158 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.