87R3939 JTS-D
By: Powell S.B. No. 386
A BILL TO BE ENTITLED
AN ACT
relating to development corporation projects to support businesses
and retain jobs during a declared state of disaster.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter C, Chapter 501, Local Government
Code, is amended by adding Section 501.108 to read as follows:
Sec. 501.108. BUSINESS SUPPORT AND JOB RETENTION DURING
STATE OF DISASTER. (a) This section applies only to a corporation
the creation of which was authorized by a unit wholly or partly
located in an area subject to a state of disaster declared under
Section 418.014, Government Code.
(b) In this subtitle, "project" includes expenditures found
by the board of directors to be required or suitable for use to
support businesses and retain jobs during the period the area is
subject to the declaration of disaster.
SECTION 2. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2021.