Relating to the operation and dissolution of the Lubbock Reese Redevelopment Authority and to agreements between Texas Tech University and the authority.
What changed between versions
Updated definitions of 'critical infrastructure' and 'national security-related technology' to align with current standards and include technology researched with Texas Tech University.
Added new powers for the authority to lease and operate port facilities for air, truck, and rail transportation, and to provide security for port functions.
Modified board composition requirements to ensure directors have experience in national security-related technology or critical infrastructure technology.
Added a legislative intent section clarifying that the authority should transfer property to Texas Tech University and dissolve after all debts are satisfied.
Added an exemption for facilities transferred to Texas Tech University from facilities inventory audits until they are placed in service.
Modified dissolution procedures to allow the authority to continue operating after property transfer if functions are not yet completed.
