| 4 | 6 | | AN ACT |
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| 5 | 7 | | relating to the deadline for certain economic development |
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| 6 | 8 | | corporations to file a certain report with the comptroller. |
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| 7 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 8 | 10 | | SECTION 1. Section 502.151(a), Local Government Code, is |
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| 9 | 11 | | amended to read as follows: |
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| 10 | 12 | | (a) Not later than April [February] 1 of each year, the |
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| 11 | 13 | | board of directors of a corporation shall submit a report to the |
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| 12 | 14 | | comptroller that includes: |
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| 13 | 15 | | (1) a statement of: |
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| 14 | 16 | | (A) the corporation's primary economic |
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| 15 | 17 | | development objectives; |
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| 16 | 18 | | (B) the corporation's total revenue during the |
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| 17 | 19 | | preceding fiscal year; |
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| 18 | 20 | | (C) the corporation's total expenditures during |
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| 19 | 21 | | the preceding fiscal year; and |
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| 20 | 22 | | (D) the corporation's total expenditures during |
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| 21 | 23 | | the preceding fiscal year in each of the following categories: |
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| 22 | 24 | | (i) administration; |
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| 23 | 25 | | (ii) personnel; |
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| 24 | 26 | | (iii) marketing or promotion; |
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| 25 | 27 | | (iv) direct business incentives; |
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| 26 | 28 | | (v) job training; |
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| 27 | 29 | | (vi) debt service; |
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| 28 | 30 | | (vii) capital costs; |
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| 29 | 31 | | (viii) affordable housing; and |
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| 30 | 32 | | (ix) payments to taxing units, including |
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| 31 | 33 | | school districts; |
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| 32 | 34 | | (2) a list of the corporation's capital assets, |
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| 33 | 35 | | including land and buildings; and |
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| 34 | 36 | | (3) any other information the comptroller requires to |
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| 35 | 37 | | determine the use of the sales and use tax imposed under Chapter 504 |
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| 36 | 38 | | or 505 to encourage economic development in this state. |
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| 37 | 39 | | SECTION 2. This Act takes effect September 1, 2019. |
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| 38 | | - | ______________________________ ______________________________ |
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| 39 | | - | President of the Senate Speaker of the House |
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| 40 | | - | I hereby certify that S.B. No. 450 passed the Senate on |
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| 41 | | - | March 27, 2019, by the following vote: Yeas 31, Nays 0. |
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| 42 | | - | ______________________________ |
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| 43 | | - | Secretary of the Senate |
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| 44 | | - | I hereby certify that S.B. No. 450 passed the House on |
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| 45 | | - | April 11, 2019, by the following vote: Yeas 146, Nays 0, one |
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| 46 | | - | present not voting. |
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| 47 | | - | ______________________________ |
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| 48 | | - | Chief Clerk of the House |
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| 49 | | - | Approved: |
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| 50 | | - | ______________________________ |
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| 51 | | - | Date |
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| 52 | | - | ______________________________ |
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| 53 | | - | Governor |
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