Enrolled Bill Summary

            Senate Bill 1480 amends Transportation Code provisions relating to local government airports to authorize a revenue sharing agreement among a municipality, home-rule cities of population greater than 400,000 that are parties to a joint-action agreement, and the joint board they have created. Under a revenue sharing agreement, a portion of the municipality's tax or fee revenue derived from territory under the joint board's jurisdiction may be transferred to the home-rule cities if the joint board agrees to encourage certain development opportunities. Transfers involving tax money from a sports and community venue project, however, may only occur if the election approving the tax is held after the date of the revenue-sharing agreement. The ballot proposition for that election must notify voters of the anticipated transfer. The act validates a revenue-sharing agreement that was made before the act's effective date.