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AN ACT
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relating to use of the money from the Texas Enterprise Fund to |
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benefit certain small businesses and certain projects. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. The vital importance of small businesses to the |
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economy of this state and the well-being of its residents requires |
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that it be the policy of this state to encourage the development and |
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location of small businesses in this state and promote |
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opportunities for those businesses to prosper. |
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SECTION 2. Section 481.078, Government Code, is amended by |
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adding Subsections (k) and (l) to read as follows: |
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(k) To encourage the development and location of small |
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businesses in this state, the governor shall consider making grants |
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from the fund: |
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(1) to recipients that are small businesses in this |
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state that commit to using the grants to create additional jobs; |
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(2) to recipients that are small businesses from |
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outside the state that commit to relocate to this state; or |
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(3) for individual projects that create 100 or fewer |
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additional jobs. |
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(l) For purposes of Subsection (k), "small business" means a |
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legal entity, including a corporation, partnership, or sole |
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proprietorship, that: |
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(1) is formed for the purpose of making a profit; |
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(2) is independently owned and operated; and |
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(3) has fewer than 100 employees. |
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SECTION 3. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2009. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I certify that H.B. No. 394 was passed by the House on March |
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26, 2009, by the following vote: Yeas 146, Nays 0, 1 present, not |
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voting; and that the House concurred in Senate amendments to H.B. |
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No. 394 on May 29, 2009, by the following vote: Yeas 140, Nays 0, 1 |
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present, not voting. |
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______________________________ |
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Chief Clerk of the House |
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I certify that H.B. No. 394 was passed by the Senate, with |
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amendments, on May 26, 2009, by the following vote: Yeas 30, Nays |
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1. |
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______________________________ |
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Secretary of the Senate |
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APPROVED: __________________ |
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Date |
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__________________ |
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Governor |