82R2274 CLG-D
By: Button H.B. No. 525
A BILL TO BE ENTITLED
AN ACT
relating to the qualifications for certification of a person as a
qualified business under the enterprise zone program.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 2303.402, Government Code, is amended by
amending Subsection (a) and adding Subsection (b) to read as
follows:
(a) In this section, "high technology" means:
(1) semiconductors;
(2) information and computer technology;
(3) micro-electromechanical systems;
(4) manufactured energy systems;
(5) nanotechnology; and
(6) biotechnology.
(b) A person is a qualified business if the bank, for the
purpose of state benefits under this chapter, or the nominating
body of a project or activity of the person under this chapter, for
the purpose of local incentives, certifies that:
(1) the person is engaged in or has provided
substantial commitment to initiate the active conduct of a trade or
business in an enterprise zone, and:
(A) if the trade or business is a high technology
trade or business, at least 15 percent of the person's new employees
in the enterprise zone are:
(i) residents of any enterprise zone in
this state; or
(ii) economically disadvantaged
individuals; or
(B) if the trade or business is not a high
technology trade or business, at least 25 percent of the person's
new employees in the enterprise zone are:
(i) [(A)] residents of any enterprise zone
in this state; or
(ii) [(B)] economically disadvantaged
individuals; or
(2) the person is engaged in or has provided
substantial commitment to initiate the active conduct of a trade or
business in an area of this state that does not qualify as an
enterprise zone, and:
(A) if the trade or business is a high technology
trade or business, at least 25 percent of the person's new employees
at the qualified business site are:
(i) residents of any enterprise zone in
this state; or
(ii) individuals who are economically
disadvantaged; or
(B) if the trade or business is not a high
technology trade or business, at least 35 percent of the person's
new employees at the qualified business site are:
(i) [(A)] residents of any enterprise zone
in this state; or
(ii) [(B)] individuals who are
economically disadvantaged.
SECTION 2. The changes in law made by this Act to Section
2303.402, Government Code, apply only to an application for a
designation under the enterprise zone program under Chapter 2303,
Government Code, as amended by this Act, that is filed on or after
the effective date of this Act. An application for a designation
under the enterprise zone program that is filed before the
effective date of this Act is governed by the law in effect on the
date the application was filed, and the former law is continued in
effect for that purpose.
SECTION 3. This Act takes effect September 1, 2011.