TX HB5092

Expands the Lubbock Reese Redevelopment Authority's purpose to include supporting national security and critical infrastructure research conducted in collaboration with Texas Tech University on the former Reese Air Force Base property

Creates property tax exemptions for tangible personal property used to develop national security-related technology or critical infrastructure technology, presuming such property is in interstate commerce and only temporarily located in Texas

Restructures the Authority's board from seven members appointed by Lubbock city/county to seven members (six appointed by the board in consultation with Texas Tech's president, plus the South Plains Association of Governments executive director)

Removes the requirement for governor approval of Authority powers and authorizes the Authority to enter interagency agreements with Texas Tech University to support research activities and transfer property to the university

Establishes that upon dissolution, remaining Authority assets transfer first to Texas Tech University (if approved by its Board of Regents) or alternatively to the City of Lubbock, and exempts transferred facilities from Texas Higher Education Coordinating Board inventory requirements until placed in service

Takes effect September 1, 2025; passed the House 114-21 on May 2, 2025 and the Senate 31-0 on May 14, 2025