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