H.B. No. 5092 amends the Special District Local Laws Code to enhance the operations and eventual dissolution of the Lubbock Reese Redevelopment Authority, particularly in relation to its collaboration with Texas Tech University. The bill introduces definitions for "critical infrastructure" and "national security-related technology," emphasizing the authority's role in supporting research and development in these areas. It expands the authority's purpose to include facilitating applied research in cooperation with Texas Tech University and outlines the composition of the board, which will now consist of six directors instead of five, with a focus on expertise in national security-related technology.

Additionally, the bill establishes a framework for the transfer of ownership of base property to Texas Tech University and outlines the conditions for the authority's dissolution. It specifies that the authority may only be dissolved after all functions are completed and debts settled, with remaining assets being transferred to Texas Tech University or, if declined, to the City of Lubbock. The bill also exempts facilities transferred to Texas Tech from certain inventory audits until they are operational. The changes are set to take effect on September 1, 2025.

Statutes affected:
Introduced: Special District Local Laws Code 3501.001, Special District Local Laws Code 151.3182, Special District Local Laws Code 3501.004, Special District Local Laws Code 3501.005, Special District Local Laws Code 3501.051, Special District Local Laws Code 3501.102 (Special District Local Laws Code 151, Special District Local Laws Code 3501)
House Committee Report: Special District Local Laws Code 3501.001, Special District Local Laws Code 151.3182, Special District Local Laws Code 3501.004, Special District Local Laws Code 3501.005, Special District Local Laws Code 3501.051, Special District Local Laws Code 3501.102 (Special District Local Laws Code 151, Special District Local Laws Code 3501)
Engrossed: Special District Local Laws Code 3501.001, Special District Local Laws Code 151.3182, Special District Local Laws Code 3501.004, Special District Local Laws Code 3501.005, Special District Local Laws Code 3501.051, Special District Local Laws Code 3501.102 (Special District Local Laws Code 151, Special District Local Laws Code 3501)
Senate Committee Report: Special District Local Laws Code 3501.001, Special District Local Laws Code 151.3182, Special District Local Laws Code 3501.004, Special District Local Laws Code 3501.005, Special District Local Laws Code 3501.051, Special District Local Laws Code 3501.102 (Special District Local Laws Code 151, Special District Local Laws Code 3501)
Enrolled: Special District Local Laws Code 3501.001, Special District Local Laws Code 151.3182, Special District Local Laws Code 3501.004, Special District Local Laws Code 3501.005, Special District Local Laws Code 3501.051, Special District Local Laws Code 3501.102 (Special District Local Laws Code 151, Special District Local Laws Code 3501)