(a) Before an entity that is awarded transportation development credits under this subchapter may use those credits, the entity must enter into a project agreement with the department if the credits are awarded by the commission or with the MPO that awarded the credits.
(b) If an entity does not sign a project agreement within two years after the date of the award of the credits, the credits may be awarded to another eligible entity under this subchapter.
(c) An entity that enters into a project agreement under this section shall comply with all specified terms and conditions of the agreement.

Source Note: The provisions of this §5.110 adopted to be effective October 18, 2012, 37 TexReg 8204