82R10160 ATP-F
By: Torres H.B. No. 2493
A BILL TO BE ENTITLED
AN ACT
relating to enterprise project half designations under the
enterprise zone program.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 2303.406, Government Code, is amended by
adding Subsection (d-1) to read as follows:
(d-1) An enterprise project designation may be split into
two half designations.
SECTION 2. Section 2303.407, Government Code, is amended by
adding Subsection (e) to read as follows:
(e) The maximum number of jobs that the bank may allocate to
an enterprise project split into two half designations as provided
by Section 2303.406(d-1) is 250.
SECTION 3. Section 2303.4071, Government Code, is amended
by amending Subsection (a) and adding Subsection (e) to read as
follows:
(a) In this section:
(1) "Double [,"double] jumbo enterprise project" and
"triple jumbo enterprise project" have the meanings assigned by
Section 2303.407.
(2) "Half enterprise project" means an enterprise
project split into two half designations as provided by Section
2303.406(d-1).
(e) A half enterprise project is eligible for a maximum
refund of $125,000 in each state fiscal year.
SECTION 4. 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, 2011.