SRC-MAX H.B. 1410 75(R) BILL ANALYSIS Senate Research Center H.B. 1410 By: Hill (Ellis) Intergovernmental Relations 4-25-97 Engrossed DIGEST The Development Corporation Act of 1979 was enacted by the 66th Legislature. The general purpose of the Act is the promotion of "gainful employment" and the development of business, commerce, and industry. Under this Act, a "project" is a broadly defined term and includes manufacturing and industrial facilities, utility improvements, and property promoting manufacturing and industrial development. This bill redefines "project" to authorize economic development corporations to provide affordable housing. PURPOSE As proposed, H.B. 1410 redefines "project" to authorize economic development corporations to include affordable housing. RULEMAKING AUTHORITY This bill does not grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 2(10), Article 5190.6, V.T.C.S. (Development Corporation Act of 1979) to redefine "project" to include affordable housing (as defined by 42 U.S.C. Section 12745). SECTION 2. Emergency clause. Effective date: upon passage.