| 1 | 1 | | 82R13504 ATP-D |
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| 2 | 2 | | By: Reynolds, Zerwas H.B. No. 3302 |
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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 the authority of certain Type A economic development |
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| 8 | 8 | | corporations to undertake certain categories of projects. |
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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. Subchapter D, Chapter 504, Local Government |
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| 11 | 11 | | Code, is amended by adding Section 504.171 to read as follows: |
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| 12 | 12 | | Sec. 504.171. AUTHORITY OF CERTAIN CORPORATIONS TO |
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| 13 | 13 | | UNDERTAKE TYPE B PROJECTS. (a) This section applies only to a Type |
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| 14 | 14 | | A corporation the creation of which was authorized by a |
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| 15 | 15 | | municipality: |
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| 16 | 16 | | (1) that has also authorized the creation of a Type B |
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| 17 | 17 | | corporation; and |
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| 18 | 18 | | (2) that has a population of 7,500 or less. |
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| 19 | 19 | | (b) Notwithstanding Section 504.152, if permitted by |
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| 20 | 20 | | ordinance of the authorizing municipality, a Type A corporation to |
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| 21 | 21 | | which this section applies may undertake any project that a Type B |
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| 22 | 22 | | corporation, the creation of which was authorized by the same |
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| 23 | 23 | | municipality, may undertake under Chapter 505. |
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| 24 | 24 | | (c) The governing body of an authorizing municipality may by |
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| 25 | 25 | | ordinance revoke any authority granted to a Type A corporation |
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| 26 | 26 | | under Subsection (b). A revocation under this subsection does not |
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| 27 | 27 | | affect the authority of a corporation to complete a project already |
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| 28 | 28 | | undertaken or the obligation to repay any debt incurred in |
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| 29 | 29 | | connection with a project under Subsection (b). |
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| 30 | 30 | | SECTION 2. This Act takes effect immediately if it receives |
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| 31 | 31 | | a vote of two-thirds of all the members elected to each house, as |
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| 32 | 32 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 33 | 33 | | Act does not receive the vote necessary for immediate effect, this |
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| 34 | 34 | | Act takes effect September 1, 2011. |
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