| 1 | 1 | | 81R3228 JE-D |
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| 2 | 2 | | By: Rose H.B. No. 394 |
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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 the money from the Texas Enterprise Fund to |
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| 8 | 8 | | benefit small businesses. |
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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. The vital importance of small businesses to the |
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| 11 | 11 | | economy of this state and the well-being of its residents requires |
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| 12 | 12 | | that it be the policy of this state to encourage the creation and |
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| 13 | 13 | | location of small businesses in this state and promote |
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| 14 | 14 | | opportunities for those businesses to prosper. |
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| 15 | 15 | | SECTION 2. Section 481.078, Government Code, is amended by |
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| 16 | 16 | | adding Subsection (k) to read as follows: |
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| 17 | 17 | | (k) To encourage the creation, development, and location of |
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| 18 | 18 | | small businesses in this state, the governor shall consider making |
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| 19 | 19 | | grants from the fund to recipients that are small businesses in this |
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| 20 | 20 | | state or that commit to using the grants to create new small |
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| 21 | 21 | | businesses in this state or relocate small businesses from outside |
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| 22 | 22 | | the state to this state. For the purposes of this subsection, |
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| 23 | 23 | | "small business" means a legal entity, including a corporation, |
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| 24 | 24 | | partnership, or sole proprietorship, that: |
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| 25 | 25 | | (1) is formed for the purpose of making a profit; |
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| 26 | 26 | | (2) is independently owned and operated; and |
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| 27 | 27 | | (3) has fewer than 100 employees. |
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| 28 | 28 | | SECTION 3. This Act takes effect September 1, 2009. |
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