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A BILL TO BE ENTITLED
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AN ACT
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relating to development corporation projects to support businesses |
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and retain jobs during a declared state of disaster. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter C, Chapter 501, Local Government |
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Code, is amended by adding Section 501.108 to read as follows: |
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Sec. 501.108. BUSINESS SUPPORT AND JOB RETENTION DURING |
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STATE OF DISASTER. (a) This section applies only to a corporation |
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the creation of which was authorized by a unit wholly or partly |
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located in an area subject to a state of disaster declared under |
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Section 418.014, Government Code. |
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(b) In this subtitle, "project" includes expenditures found |
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by the board of directors to be required or suitable for use to |
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support businesses and retain jobs during the period the area is |
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subject to the declaration of disaster. |
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SECTION 2. 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, 2021. |