H.B. No. 394
AN ACT
relating to use of the money from the Texas Enterprise Fund to
benefit certain small businesses and certain projects.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. The vital importance of small businesses to the
economy of this state and the well-being of its residents requires
that it be the policy of this state to encourage the development and
location of small businesses in this state and promote
opportunities for those businesses to prosper.
SECTION 2. Section 481.078, Government Code, is amended by
adding Subsections (k) and (l) to read as follows:
(k) To encourage the development and location of small
businesses in this state, the governor shall consider making grants
from the fund:
(1) to recipients that are small businesses in this
state that commit to using the grants to create additional jobs;
(2) to recipients that are small businesses from
outside the state that commit to relocate to this state; or
(3) for individual projects that create 100 or fewer
additional jobs.
(l) For purposes of Subsection (k), "small business" means a
legal entity, including a corporation, partnership, or sole
proprietorship, that:
(1) is formed for the purpose of making a profit;
(2) is independently owned and operated; and
(3) has fewer than 100 employees.
SECTION 3. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2009.
______________________________ ______________________________
President of the Senate Speaker of the House
I certify that H.B. No. 394 was passed by the House on March
26, 2009, by the following vote: Yeas 146, Nays 0, 1 present, not
voting; and that the House concurred in Senate amendments to H.B.
No. 394 on May 29, 2009, by the following vote: Yeas 140, Nays 0, 1
present, not voting.
______________________________
Chief Clerk of the House
I certify that H.B. No. 394 was passed by the Senate, with
amendments, on May 26, 2009, by the following vote: Yeas 30, Nays
1.
______________________________
Secretary of the Senate
APPROVED: __________________
Date
__________________
Governor