By: Hinojosa S.B. No. 1743
(In the Senate - Filed March 11, 2009; March 20, 2009, read
first time and referred to Committee on Economic Development;
April 1, 2009, reported adversely, with favorable Committee
Substitute by the following vote: Yeas 3, Nays 0; April 1, 2009,
sent to printer.)
COMMITTEE SUBSTITUTE FOR S.B. No. 1743 By: Watson
A BILL TO BE ENTITLED
AN ACT
relating to the use of money from the Texas Enterprise Fund to
recruit automotive manufacturing facilities.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 481.078, Government Code, is amended by
adding Subsection (e-2) to read as follows:
(e-2) Notwithstanding Subsection (e-1), a municipality, a
development corporation authorized to be created by the
municipality, or both the municipality and a development
corporation authorized to be created by the municipality are
eligible to receive a grant under this section for the purpose of
recruiting an automotive manufacturing facility. A particular
municipality, including all of the municipality's related
development corporations, may not receive more than $50 million in
grants under this subsection in a state fiscal year. A municipality
may apply for a grant under this section in the same manner as a
business entity. In this subsection, "development corporation"
means a corporation authorized to be created by a municipality
under the Development Corporation Act (Subtitle C1, Title 12, Local
Government Code).
SECTION 2. This Act takes effect September 1, 2009.
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