Enrolled Bill Summary

            Senate Bill 655 adds a new Local Government Code chapter to authorize a city to create a defense base development authority with respect to a military installation or facility that is closed or realigned by the federal government. The city may designate the authority as the successor to a nonprofit corporation organized under the Development Corporation Act of 1979. An authority has various functions relating to the closure and its aftermath, including the pursuit of a base conversion and redevelopment plan, the oversight of base transition and development, the promotion of economic development, the reduction of unemployment, and the encouragement of new industry and the financing of redevelopment projects. The act itemizes related governmental powers and includes options for conveyance and operation of federal utilities. An authority may issue bonds if the city empowers it to do so.