| 1 | 1 | | 81R5829 CLG-D |
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| 2 | 2 | | By: Button H.B. No. 1277 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to use of money from the Texas enterprise fund to retain |
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| 8 | 8 | | businesses located in this state. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. (a) Money appropriated from the Texas |
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| 11 | 11 | | enterprise fund under Section 481.078, Government Code, for the |
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| 12 | 12 | | state fiscal biennium beginning September 1, 2009, and ending |
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| 13 | 13 | | August 31, 2011, may be used for incentives to retain businesses |
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| 14 | 14 | | located in this state. |
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| 15 | 15 | | (b) This section expires January 1, 2012. |
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| 16 | 16 | | SECTION 2. Section 481.078, Government Code, is amended by |
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| 17 | 17 | | amending Subsection (c) and adding Subsection (m) to read as |
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| 18 | 18 | | follows: |
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| 19 | 19 | | (c) Except as provided by Subsection (d), the fund may be |
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| 20 | 20 | | used only for economic development, infrastructure development, |
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| 21 | 21 | | community development, job training programs, and business |
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| 22 | 22 | | incentives, including incentives to retain businesses located in |
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| 23 | 23 | | this state, subject to Subsection (m). |
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| 24 | 24 | | (m) This subsection applies only to a state fiscal biennium |
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| 25 | 25 | | on the first day of which the unemployment rate for this state, as |
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| 26 | 26 | | determined by the federal Bureau of Labor Statistics, is seven |
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| 27 | 27 | | percent or more. Money appropriated from the fund for a state |
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| 28 | 28 | | fiscal biennium to which this subsection applies may be used for |
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| 29 | 29 | | incentives to retain businesses located in this state. |
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| 30 | 30 | | SECTION 3. (a) Except as provided by Subsection (b) of this |
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| 31 | 31 | | section, this Act takes effect September 1, 2009. |
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| 32 | 32 | | (b) The changes in law made by this Act to Section 481.078, |
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| 33 | 33 | | Government Code, take effect September 1, 2011. |
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