81R24186 CLG-D
By: Button, Cook, Pitts, Deshotel, Giddings, H.B. No. 1277
et al.
Substitute the following for H.B. No. 1277:
By: Button C.S.H.B. No. 1277
A BILL TO BE ENTITLED
AN ACT
relating to use of money from the Texas Enterprise Fund to retain
businesses that are considering relocating outside this state.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. (a) Money appropriated from the Texas
Enterprise Fund under Section 481.078, Government Code, for the
state fiscal biennium beginning September 1, 2009, and ending
August 31, 2011, may be used for incentives to retain businesses in
this state that are considering relocating to a location outside of
this state.
(b) This section expires January 1, 2012.
SECTION 2. Section 481.078, Government Code, is amended by
amending Subsection (c) and adding Subsection (m) to read as
follows:
(c) Except as provided by Subsection (d), the fund may be
used only for economic development, infrastructure development,
community development, job training programs, and business
incentives, including incentives to retain businesses in this state
that are considering relocating to a location outside of this
state, subject to Subsection (m).
(m) This subsection applies only to a state fiscal biennium
on the first day of which the unemployment rate for this state, as
determined by the federal Bureau of Labor Statistics, is seven
percent or more. Money appropriated from the fund for a state
fiscal biennium to which this subsection applies may be used for
incentives to retain businesses in this state that are considering
relocating to a location outside of this state.
SECTION 3. (a) Except as provided by Subsection (b) of this
section, this Act takes effect September 1, 2009.
(b) The changes in law made by this Act to Section 481.078,
Government Code, take effect September 1, 2011.