82R13504 ATP-D
By: Reynolds, Zerwas H.B. No. 3302
A BILL TO BE ENTITLED
AN ACT
relating to the authority of certain Type A economic development
corporations to undertake certain categories of projects.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter D, Chapter 504, Local Government
Code, is amended by adding Section 504.171 to read as follows:
Sec. 504.171. AUTHORITY OF CERTAIN CORPORATIONS TO
UNDERTAKE TYPE B PROJECTS. (a) This section applies only to a Type
A corporation the creation of which was authorized by a
municipality:
(1) that has also authorized the creation of a Type B
corporation; and
(2) that has a population of 7,500 or less.
(b) Notwithstanding Section 504.152, if permitted by
ordinance of the authorizing municipality, a Type A corporation to
which this section applies may undertake any project that a Type B
corporation, the creation of which was authorized by the same
municipality, may undertake under Chapter 505.
(c) The governing body of an authorizing municipality may by
ordinance revoke any authority granted to a Type A corporation
under Subsection (b). A revocation under this subsection does not
affect the authority of a corporation to complete a project already
undertaken or the obligation to repay any debt incurred in
connection with a project under Subsection (b).
SECTION 2. 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.