Sec. 482.502.  MULTIYEAR PROJECTS.  The board may grant money for a multiyear project.  The board shall specify the total amount of money approved to fund the multiyear project.  The total amount specified is considered for purposes of this subchapter to have been awarded in the state fiscal year that the project is approved by the board.  The board shall distribute only the money that will be expended during that fiscal year.  The board shall distribute the remaining grant money as the money is needed in each subsequent state fiscal year.
Added by Acts 2023, 88th Leg., R.S., Ch. 856 (H.B. 3447), Sec. 1, eff. September 1, 2023.