By Conley                                              H.B. No. 516
       74R2288 CLG-D
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to the waiver of a performance bond by a subcontractor on
    1-3  certain projects under the Texas Enterprise Zone Act.
    1-4        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-5        SECTION 1.  Section 2303.514, Government Code, is amended to
    1-6  read as follows:
    1-7        Sec. 2303.514.  Waiver of Performance Bond.  (a)  A prime
    1-8  contractor is not required to execute a performance bond under
    1-9  Chapter 2253 if:
   1-10              (1)  the construction, alteration, repair, or other
   1-11  public work to be performed under the contract is entirely in an
   1-12  enterprise zone; and
   1-13              (2)  the amount of the contract does not exceed
   1-14  $200,000.
   1-15        (b)  A subcontractor may not be required to execute a
   1-16  performance bond if the amount of the subcontract does not exceed
   1-17  $200,000.
   1-18        SECTION 2.  The importance of this legislation and the
   1-19  crowded condition of the calendars in both houses create an
   1-20  emergency and an imperative public necessity that the
   1-21  constitutional rule requiring bills to be read on three several
   1-22  days in each house be suspended, and this rule is hereby suspended,
   1-23  and that this Act take effect and be in force from and after its
   1-24  passage, and it is so enacted.