1-1 By: Place (Senate Sponsor - Sims) H.B. No. 1077
1-2 (In the Senate - Received from the House April 5, 1993;
1-3 April 5, 1993, read first time and referred to Committee on
1-4 Economic Development; May 11, 1993, reported favorably by the
1-5 following vote: Yeas 8, Nays 0; May 11, 1993, sent to printer.)
1-6 COMMITTEE VOTE
1-7 Yea Nay PNV Absent
1-8 Parker x
1-9 Lucio x
1-10 Ellis x
1-11 Haley x
1-12 Harris of Dallas x
1-13 Harris of Tarrant x
1-14 Leedom x
1-15 Madla x
1-16 Rosson x
1-17 Shapiro x
1-18 Wentworth x
1-19 A BILL TO BE ENTITLED
1-20 AN ACT
1-21 relating to the use of corporate revenue of certain industrial
1-22 development corporations for promotional purposes.
1-23 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-24 SECTION 1. Section 4A(b), Development Corporation Act of
1-25 1979 (Article 5190.6, Vernon's Texas Civil Statutes), is amended to
1-26 read as follows:
1-27 (b) A city may create a corporation under this Act governed
1-28 by this section. The corporation has the powers and is subject to
1-29 the limitations of a corporation created under other provisions of
1-30 this Act. To the extent of a conflict between this section and
1-31 another provision of this Act, this section prevails. The articles
1-32 of incorporation of a corporation under this section must state
1-33 that the corporation is governed by this section. A city may not
1-34 create more than one corporation governed by this section. A
1-35 corporation created under this section may spend no more than 25
1-36 <10> percent of the corporate revenues for promotional purposes and
1-37 may contract with other existing private corporations to carry out
1-38 industrial development programs consistent with the purposes and
1-39 duties as set out in this Act.
1-40 SECTION 2. This Act takes effect September 1, 1993.
1-41 SECTION 3. The importance of this legislation and the
1-42 crowded condition of the calendars in both houses create an
1-43 emergency and an imperative public necessity that the
1-44 constitutional rule requiring bills to be read on three several
1-45 days in each house be suspended, and this rule is hereby suspended.
1-46 * * * * *
1-47 Austin,
1-48 Texas
1-49 May 11, 1993
1-50 Hon. Bob Bullock
1-51 President of the Senate
1-52 Sir:
1-53 We, your Committee on Economic Development to which was referred
1-54 H.B. No. 1077, have had the same under consideration, and I am
1-55 instructed to report it back to the Senate with the recommendation
1-56 that it do pass and be printed.
1-57 Parker,
1-58 Chairman
1-59 * * * * *
1-60 WITNESSES
1-61 No witnesses appeared on H.B. No. 1077.