By De La Garza H.B. No. 2887 A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to the purposes for which certain industrial development 1-3 corporations may use revenue from the sales and use tax. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Section 4A, Development Corporation Act of 1979 1-6 (Article 5190.6 Vernon's Texas Civil Statutes), is amended to read 1-7 as follows: 1-8 (i) Except as provided by this subsection, the corporation 1-9 may not undertake a project the primary purpose of which is to 1-10 provide transportation facilities, solid waste disposal facilities, 1-11 or air or water pollution control facilities. However, the 1-12 corporation may provide those facilities to benefit property 1-13 acquired for a project having another primary purpose. The 1-14 corporation may undertake a project the primary purpose of which is 1-15 to provide: 1-16 (1) a general aviation business service airport that 1-17 is an integral part of an industrial park; or 1-18 (2) port-related facilities to support waterborne 1-19 commerce; or 1-20 (3) Land, buildings, equipment, facilities, and 1-21 improvements found by the board of directors to be required or 1-22 suitable for use for projects which are regional in scope such as, 1-23 special events centers, themed entertainment centers, 2-1 amphitheaters, learning centers, museums, medical centers, 2-2 convention centers, and other related improvements that enhance any 2-3 of these items. 2-4 (r) At an election called or held under Subsection (d) or 2-5 (o) of this section, the city may also allow the voters to vote on 2-6 a ballot proposition that limits the use of the sales and use tax 2-7 to a specific project. If a city elects to limit the use to a 2-8 specific project, in the ballot proposition prescribed by 2-9 Subsection (m) or (p) a description of the project shall be 2-10 substituted in place of the words "new and expanded business 2-11 enterprises." When the last of its obligations for the specific 2-12 project have been satisfied, the corporation shall send a notice to 2-13 the comptroller stating that the sales and use tax imposed for the 2-14 specific project may not be collected after the last day of the 2-15 first calendar quarter beginning after the date of the 2-16 notification. A sales and use tax imposed for a specific project 2-17 under this subsection may not be collected after the last day of 2-18 the first calendar quarter beginning after the date of the 2-19 notification to the comptroller. Revenue collected after the 2-20 obligations for the specific project have been satisfied shall be 2-21 forwarded by the state to the governing body to be used to pay 2-22 current bonded indebtedness of the municipality. A corporation 2-23 that has been created to perform a specific project under this 2-24 subsection may retain its corporate existence and perform other 2-25 projects as may be approved by the voters of the city under an 3-1 election called and held under Subsection (d) or (o) of this 3-2 section. A corporation in existence under Section 4A may consider 3-3 projects under Section 4B, if the project provided for a public 3-4 hearing, by the unit of government from which the corporation was 3-5 created, to allow for public comment and reduce the cost for a new 3-6 election. 3-7 SECTION 2. This Act takes effect September 1, 1995. 3-8 SECTION 3. The importance of this legislation and the 3-9 crowded condition of the calendars in both houses create an 3-10 emergency and an imperative public necessity that the 3-11 constitutional rule requiring bills to be read on three several 3-12 days in each house be suspended, and this rule is hereby suspended.