Amend HB 1410 by adding the following SECTION appropriately
numbered, and renumbering subsequent SECTIONS accordingly.
      SECTION _____.  The Development Corporation Act of 1979
(Article 5190.6, Vernon's Texas Civil Statutes) is amended by
adding Section 4C to read as follows:
Sec. 4C.  (a)  Not later than February 1 of each year, the board of
directors of a corporation created under Section 4A or 4B of this
Act shall submit to the comptroller a report in the form required
by the comptroller.
      (b)  The reporting form shall not exceed one page in length
and must include:
            (1)  a statement of the corporation's primary economic
development objectives;
            (2)  a statement of the corporation's total revenues
during the preceding fiscal year;
            (3)  a statement of the corporation's total
expenditures during the preceding fiscal year;
            (4)  a statement of the corporation's total
expenditures during the preceding fiscal year in each of the
following categories:
                  (A)  administration;
                  (B)  personnel;
                  (C)  marketing or promotion;
                  (D)  direct business incentives;
                  (E)  debt service;
                  (F)  capital costs;
                  (G)  affordable housing; and
                  (H)  payments to taxing units, including school
districts;
            (5)  a list of the corporation's capital assets,
including land and buildings; and
            (6)  any other information the comptroller requires to
determine the use of the sales and use tax imposed under Section 4A
or 4B of this Act to encourage economic development in this state.
      (c)  If a corporation fails to file a report in accordance
with this section or fails to include sufficient information in the
report, the comptroller shall provide to the corporation written
notice of this failure.  The written notice must include
information on how to correct the failure.
      (d)  The comptroller may impose an administrative penalty of
$200 against a corporation that does not correct the failure before
the 31st day after the date the corporation receives the written
notice under Subsection (c) of this section.
      (e)  The comptroller by rule shall prescribe the procedures
for the imposition of an administrative penalty under this section.
The rules must protect the due process rights of a corporation.
      (f)  Not later than November 1 of each even-numbered year,
the comptroller shall submit to the legislature a report on the use
of the sales and use tax imposed under Sections 4A and 4B of this
Act to encourage economic development in this state.
      (g)  On request, the comptroller shall provide without charge
a copy of the report required by Subsection (f) of this section to
a corporation organized under Section 4A or 4B of this Act.