TX SB878

Prohibits municipalities and counties from granting ad valorem tax exemptions or relief under Chapter 380 (municipal) and Chapter 381 (county) economic development programs, though loans and grants to recipients with separate tax abatement agreements under Chapter 312 remain permitted

Requires public hearings before municipalities or counties can make economic development loans or grants, with notice posted online and provided 15-30 business days in advance, including recipient name, public purpose description, and loan/grant amount and duration

Mandates that all economic development loan and grant agreements include performance metrics tied to program goals, with renewals only permitted if metrics are met

Limits initial economic development agreement terms to 10 years maximum, with up to three renewals of 5 years each allowed, for a total maximum duration of 25 years

Protects proprietary business information submitted with loan/grant applications from public disclosure until the agreement is executed, after which the information becomes public record