TX HB3255

Expands financing authority for development corporations created by the Gulf Coast Authority to include educational and housing facilities, health facilities, facilities for 501(c)(3) nonprofit organizations, energy production and storage facilities (biomass, geothermal, nuclear, hydroelectric), and telecommunications facilities

Authorizes financing for periodic acquisition of natural gas or electricity for users, granting the development corporation powers equivalent to a public facility corporation for these energy acquisitions

Permits the development corporation to finance any facility, activity, or undertaking that a local government or local government-created entity is authorized to support, regardless of whether it qualifies as an authorized project under existing development corporation law

Requires submission of an approval resolution and detailed project description to the attorney general for out-of-state projects; exempts such securities from attorney general review if no written request for additional records is made within 12 business days

Allows the development corporation to self-certify that out-of-state projects meet public purpose requirements if found suitable for developing or promoting new or expanded business enterprises, satisfying Texas Economic Development and Tourism Office approval standards