Any competitive bidding requirement or restriction on a local government that created a local government corporation does not apply to an expenditure by the local government corporation for:

1. (1) an improvement:

   1. (A) that is constructed in a reinvestment zone; and
   2. (B) the construction of which is managed by a private venture participant; or
2. (2) an improvement constructed by the corporation for which more than 50 percent of the construction is funded by a private entity.

Added by Acts 2007, 80th Leg., R.S., Ch. 1213 (H.B. 1886), Sec. 16, eff. September 1, 2007.