Texas 2011 - 82nd Regular

Texas House Bill HB2493 Compare Versions

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1	1	82R21357 ATP-F
2	2	By: Torres H.B. No. 2493
3	3	Substitute the following for H.B. No. 2493:
4	4	By: Vo C.S.H.B. No. 2493
5	5
6	6
7	7	A BILL TO BE ENTITLED
8	8	AN ACT
9	9	relating to authorizing enterprise project half designations and
10	10	quarter designations under the enterprise zone program.
11	11	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
12	12	SECTION 1. Section 2303.401, Government Code, is amended by
13	13	adding Subdivisions (3), (4), and (5) to read as follows:
14	14	(3) "Full enterprise project" means an enterprise
15	15	project that is allocated more than 250 jobs for benefit.
16	16	(4) "Half enterprise project" means an enterprise
17	17	project that is allocated at least 126 jobs but not more than 250
18	18	jobs for benefit and is considered to be one-half of a full
19	19	enterprise project designation for purposes of this subchapter.
20	20	(5) "Quarter enterprise project" means an enterprise
21	21	project that is allocated not more than 125 jobs for benefit and is
22	22	considered to be one-quarter of a full enterprise project
23	23	designation for purposes of this subchapter.
24	24	SECTION 2. Section 2303.403, Government Code, is amended to
25	25	read as follows:
26	26	Sec. 2303.403. PROHIBITION ON QUALIFIED BUSINESS
27	27	CERTIFICATION; LIMIT ON ENTERPRISE PROJECT DESIGNATIONS. (a) If
28	28	the bank determines that the governing body eligible to nominate an
29	29	enterprise project is not complying with this chapter, the bank
30	30	shall prohibit the certification of a qualified business until the
31	31	bank determines that the governing body is complying with this
32	32	chapter.
33	33	(b) The bank may not designate more than 105 enterprise
34	34	projects during any biennium. Any designations remaining at the
35	35	end of a biennium may be carried forward to the next biennium.
36	36	(c) For purposes of Subsection (b):
37	37	(1) a full enterprise project uses one of the bank's
38	38	designations;
39	39	(2) a half enterprise project uses one-half of one of
40	40	the bank's designations; and
41	41	(3) a quarter enterprise project uses one-quarter of
42	42	one of the bank's designations.
43	43	SECTION 3. Sections 2303.406(d) and (f), Government Code,
44	44	are amended to read as follows:
45	45	(d) The maximum number of enterprise projects that the bank
46	46	may designate for each nominating body during any biennium is:
47	47	(1) six full enterprise projects, if the nominating
48	48	body is the governing body of a municipality or county with a
49	49	population of less than 250,000; or
50	50	(2) nine full enterprise projects, if the nominating
51	51	body is the governing body of a municipality or county with a
52	52	population of 250,000 or more.
53	53	(f) An approved designation as a double jumbo enterprise
54	54	project, as defined by Section 2303.407, counts as two full
55	55	enterprise project designations against both the nominating body
56	56	for purposes of Subsection (d) and the number of enterprise project
57	57	designations allowed statewide per biennium under Section
58	58	2303.403. An approved designation as a triple jumbo enterprise
59	59	project, as defined by Section 2303.407, counts as three full
60	60	enterprise project designations against both the nominating body
61	61	for purposes of Subsection (d) and the number of enterprise project
62	62	designations allowed statewide per biennium under Section
63	63	2303.403.
64	64	SECTION 4. Section 2303.4071, Government Code, is amended
65	65	by adding Subsection (e) to read as follows:
66	66	(e) A double jumbo or triple jumbo enterprise project may be
67	67	split into two half designations or four quarter designations, and
68	68	the maximum tax refunds for the project divided accordingly.
69	69	SECTION 5. Section 2303.407(b), Government Code, is amended
70	70	to read as follows:
71	71	(b) A capital investment in a project of:
72	72	(1) $40,000 to $399,999 will result in a refund of up
73	73	to $2,500 per job with a maximum refund of $25,000 for the creation
74	74	or retention of 10 jobs;
75	75	(2) $400,000 to $999,999 will result in a refund of up
76	76	to $2,500 per job with a maximum refund of $62,500 for the creation
77	77	or retention of 25 jobs;
78	78	(3) $1,000,000 to $4,999,999 will result in a refund
79	79	of up to $2,500 per job with a maximum refund of $312,500 for the
80	80	creation or retention of 125 jobs;
81	81	(4) $5,000,000 to $149,999,999 will result in a refund
82	82	of up to $2,500 per job with a maximum refund of:
83	83	(A) $625,000 for the creation or retention of 250
84	84	jobs; or
85	85	(B) $1,250,000 for the creation or retention of
86	86	500 jobs;
87	87	(5) if the bank designates the project as a double
88	88	jumbo enterprise project, $150,000,000 to $249,999,999 will
89	89	result in a refund of up to $5,000 per job with a maximum refund of:
90	90	(A) $1,250,000 for the creation or retention of
91	91	250 jobs; or
92	92	(B) $2,500,000 for the creation or retention of
93	93	500 jobs [if the bank designates the project as a double jumbo
94	94	enterprise project]; or
95	95	(6) if the bank designates the project as a triple
96	96	jumbo enterprise project, $250,000,000 or more will result in a
97	97	refund of up to $7,500 per job with a maximum refund of:
98	98	(A) $1,875,000 for the creation or retention of
99	99	at least 250 jobs; or
100	100	(B) $3,750,000 for the creation or retention of
101	101	at least 500 jobs [if the bank designates the project as a triple
102	102	jumbo enterprise project].
103	103	SECTION 6. Section 151.429(b), Tax Code, is amended to read
104	104	as follows:
105	105	(b) Subject to the limitations provided by Subsection (c) of
106	106	this section, an enterprise project qualifies for a refund of taxes
107	107	under this section based on the amount of capital investment made at
108	108	the qualified business site, the project's designation level, and
109	109	the refund per job with a maximum refund to be included in a
110	110	computation of a tax refund for the project. A capital investment
111	111	at the qualified business site of:
112	112	(1) $40,000 to $399,999 will result in a refund of up
113	113	to $2,500 per job with a maximum refund of $25,000 for the creation
114	114	or retention of 10 jobs;
115	115	(2) $400,000 to $999,999 will result in a refund of up
116	116	to $2,500 per job with a maximum refund of $62,500 for the creation
117	117	or retention of 25 jobs;
118	118	(3) $1,000,000 to $4,999,999 will result in a refund
119	119	of up to $2,500 per job with a maximum refund of $312,500 for the
120	120	creation or retention of 125 jobs;
121	121	(4) $5,000,000 to $149,999,999 will result in a refund
122	122	of up to $2,500 per job with a maximum refund of:
123	123	(A) $625,000 for the creation or retention of 250
124	124	jobs; or
125	125	(B) $1,250,000 for the creation or retention of
126	126	500 jobs;
127	127	(5) if the Texas Economic Development Bank designates
128	128	the project as a double jumbo enterprise project, $150,000,000 to
129	129	$249,999,999 will result in a refund of up to $5,000 per job with a
130	130	maximum refund of:
131	131	(A) $1,250,000 for the creation or retention of
132	132	250 jobs; or
133	133	(B) $2,500,000 for the creation or retention of
134	134	500 jobs [if the Texas Economic Development Bank designates the
135	135	project as a double jumbo enterprise project]; or
136	136	(6) if the Texas Economic Development Bank designates
137	137	the project as a triple jumbo enterprise project, $250,000,000 or
138	138	more will result in a refund of up to $7,500 per job with a maximum
139	139	refund of:
140	140	(A) $1,875,000 for the creation or retention of
141	141	at least 250 jobs; or
142	142	(B) $3,750,000 for the creation or retention of
143	143	at least 500 jobs [if the Texas Economic Development Bank
144	144	designates the project as a triple jumbo enterprise project].
145	145	SECTION 7. This Act takes effect immediately if it receives
146	146	a vote of two-thirds of all the members elected to each house, as
147	147	provided by Section 39, Article III, Texas Constitution. If this
148	148	Act does not receive the vote necessary for immediate effect, this
149	149	Act takes effect September 1, 2011.