| 1 | 1 | | By: Deuell S.B. No. 1640 |
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| 2 | 2 | | (In the Senate - Filed March 8, 2013; March 20, 2013, read |
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| 3 | 3 | | first time and referred to Committee on Economic Development; |
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| 4 | 4 | | April 11, 2013, reported favorably by the following vote: Yeas 5, |
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| 5 | 5 | | Nays 0; April 11, 2013, sent to printer.) |
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| 6 | 6 | | |
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| 7 | 7 | | |
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| 8 | 8 | | A BILL TO BE ENTITLED |
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| 9 | 9 | | AN ACT |
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| 10 | 10 | | relating to the allocation of enterprise project designations |
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| 11 | 11 | | during a biennium. |
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| 12 | 12 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 13 | 13 | | SECTION 1. Section 2303.403, Government Code, is amended to |
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| 14 | 14 | | read as follows: |
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| 15 | 15 | | Sec. 2303.403. PROHIBITION ON QUALIFIED BUSINESS |
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| 16 | 16 | | CERTIFICATION; LIMIT ON ENTERPRISE PROJECT DESIGNATIONS. (a) If |
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| 17 | 17 | | the bank determines that the governing body eligible to nominate an |
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| 18 | 18 | | enterprise project is not complying with this chapter, the bank |
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| 19 | 19 | | shall prohibit the certification of a qualified business until the |
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| 20 | 20 | | bank determines that the governing body is complying with this |
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| 21 | 21 | | chapter. |
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| 22 | 22 | | (b) The bank may not designate more than 105 enterprise |
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| 23 | 23 | | projects during any biennium. Any designations remaining at the |
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| 24 | 24 | | end of a biennium may be carried forward to the next biennium. |
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| 25 | 25 | | (c) The bank may allocate the total number of enterprise |
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| 26 | 26 | | project designations available in a biennium under Subsection (b) |
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| 27 | 27 | | among two annual or four semiannual periods so that a nearly equal |
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| 28 | 28 | | number of designations are available to be awarded in each annual or |
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| 29 | 29 | | semiannual period. |
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| 30 | 30 | | SECTION 2. This Act takes effect September 1, 2013. |
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| 31 | 31 | | * * * * * |
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