89R21776 MP-F
By: Paul, Bumgarner H.B. No. 3255
A BILL TO BE ENTITLED
AN ACT
relating to the authority of a development corporation created by
the Gulf Coast Authority to finance certain projects.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 3.01, Chapter 409, Acts of the 61st
Legislature, Regular Session, 1969, is amended by amending
Subsection (g) and adding Subsections (h), (i), (j), (k), and (l) to
read as follows:
(g) A development corporation created by the authority
under Chapter 501, Local Government Code, may finance:
(1) projects described by Subchapter C, Chapter 501,
Local Government Code, located inside or outside this state; [and]
(2) qualified improvements as defined by Section
399.002, Local Government Code, located inside or outside this
state in the same manner and to the same extent as a municipality or
county may do so under Chapter 399 of that code; and
(3) projects located inside or outside this state that
acquire, construct, equip, renovate, improve, or refinance:
(A) educational and housing facilities in the
same manner as a higher education facility authority under Chapter
53A, Education Code;
(B) health facilities in the same manner as a
development corporation under Chapter 221, Health and Safety Code;
(C) the facilities or activities of an
organization that is exempt from the payment of federal income
taxes under Section 501(a), Internal Revenue Code of 1986, by being
listed as an exempt entity under Section 501(c)(3) of that code;
(D) facilities for the production or storage of
energy, including biomass, geothermal, nuclear, or hydroelectric
energy;
(E) telecommunications service facilities or
equipment, and any feature, function, or capability that is
provided by the facility or equipment, including subscriber
numbers, databases, signaling systems, and information sufficient
for billing and collection or used in the transmission, routing, or
other provision of telecommunications services; and
(F) the periodic acquisition of natural gas or
electricity for a user, as described by Section 501.003, Local
Government Code.
(h) Notwithstanding Section 501.160, Local Government Code,
a development corporation created by the authority has all of the
powers of a public facility corporation under Chapter 303, Local
Government Code, for the purpose of acquiring natural gas or
electricity as provided by Subsection (g)(3)(F) of this section.
(i) Notwithstanding any other law, a development
corporation created by the authority may finance, acquire,
construct, improve, lease, operate, or otherwise support a
facility, activity, or undertaking that a local government, as
defined by Section 271.081, Local Government Code, or an entity
created on behalf of a local government is authorized to finance,
acquire, construct, improve, lease, operate, or otherwise support,
regardless of whether the facility, activity, or undertaking is an
authorized project under Subchapter C, Chapter 501, Local
Government Code. The legislative findings contained in Section
501.004, Local Government Code, apply to this subsection and to any
facility, activity, or undertaking authorized by this subsection to
the same extent as if expressly made in this subsection.
(j) If a development corporation created by the authority
issues a public security for an out-of-state project under
Subsection (g) of this section, the development corporation shall
submit to the attorney general:
(1) a resolution approving the public security; and
(2) a detailed description of the proposed project and
financing for the project.
(k) Notwithstanding any other law, a public security issued
under Subsection (g) of this section for a project located outside
this state or a contract supporting the public security is not
subject to the review and approval of the attorney general if the
attorney general does not request in writing the submission of the
record of proceedings relating to the authorization of the public
security within 12 business days from the date of receipt by the
attorney general of the information under Subsection (j) of this
section.
(l) Notwithstanding Sections 501.251, 501.252, 501.255, and
501.256, Local Government Code, if a development corporation
created by the authority finds that a project:
(1) described by Subsection (g) of this section that
is located outside of this state is required or suitable for the
development or promotion of new or expanded business enterprises,
the project meets the public purpose of Chapter 501, Local
Government Code; and
(2) is suitable for the development or promotion of
new or expanded business enterprises, the project fully satisfies
and is considered sufficient for purposes of any project approval
standards adopted by the Texas Economic Development and Tourism
Office.
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, 2025.