Texas Development Corporation Act (1979)
Texas lawmakers created Type A and Type B development corporations in the Development Corporation Act of 1979. The law lets cities set aside sales-tax revenue for economic development, with Type B corporations allowed to fund public improvements such as streets, sidewalks, and utilities.
Cities across Texas set up local development corporations to pay for projects without property-tax increases.
The framework is why Corpus Christi has a Type B board that can fund road work, and why a public hearing is required before sales-tax money is committed.
The Sept. 3 hearing is a direct product of this state law.
