H.B. No. 1077 1-1 AN ACT 1-2 relating to the use of corporate revenue of certain industrial 1-3 development corporations for promotional purposes. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Section 4A(b), Development Corporation Act of 1-6 1979 (Article 5190.6, Vernon's Texas Civil Statutes), is amended to 1-7 read as follows: 1-8 (b)(1) A city may create a corporation under this Act 1-9 governed by this section. The corporation has the powers and is 1-10 subject to the limitations of a corporation created under other 1-11 provisions of this Act. To the extent of a conflict between this 1-12 section and another provision of this Act, this section prevails. 1-13 The articles of incorporation of a corporation under this section 1-14 must state that the corporation is governed by this section. A 1-15 city may not create more than one corporation governed by this 1-16 section. A corporation created under this section may spend no 1-17 more than 10 percent of the corporate revenues for promotional 1-18 purposes and may contract with other existing private corporations 1-19 to carry out industrial development programs consistent with the 1-20 purposes and duties as set out in this Act. 1-21 (2) Notwithstanding Subdivision (1), a corporation 1-22 created under this section may spend no more than 25 percent of the 1-23 corporate revenues for promotional purposes if the corporation was 1-24 created by a city: 2-1 (i) the municipal limits of which include two 2-2 counties; 2-3 (ii) that has less than 24,250 population 2-4 according to the 1990 federal census; and 2-5 (iii) any part of which is located within ten 2-6 miles of a federal military reservation. 2-7 SECTION 2. This Act takes effect September 1, 1993. 2-8 SECTION 3. The importance of this legislation and the 2-9 crowded condition of the calendars in both houses create an 2-10 emergency and an imperative public necessity that the 2-11 constitutional rule requiring bills to be read on three several 2-12 days in each house be suspended, and this rule is hereby suspended.