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.