1-1 AN ACT
1-2 relating to projects and reports of certain economic development
1-3 corporations; providing an administrative penalty.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 4B(a)(2), Development Corporation Act of
1-6 1979 (Article 5190.6, Vernon's Texas Civil Statutes), is amended to
1-7 read as follows:
1-8 (2) "Project" means land, buildings, equipment,
1-9 facilities, and improvements included in the definition of that
1-10 term under Section 2 of this Act, including recycling facilities,
1-11 and land, buildings, equipment, facilities, and improvements found
1-12 by the board of directors to:
1-13 (A) be required or suitable for use for
1-14 professional and amateur (including children's) sports, athletic,
1-15 entertainment, tourist, convention, and public park purposes and
1-16 events, including stadiums, ball parks, auditoriums, amphitheaters,
1-17 concert halls, learning centers, parks and park facilities, open
1-18 space improvements, municipal buildings, museums, exhibition
1-19 facilities, and related store, restaurant, concession, and
1-20 automobile parking facilities, related area transportation
1-21 facilities, and related roads, streets, and water and sewer
1-22 facilities, and other related improvements that enhance any of
1-23 those items; [or]
1-24 (B) promote or develop new or expanded business
2-1 enterprises, including a project to provide public safety
2-2 facilities, streets and roads, drainage and related improvements,
2-3 demolition of existing structures, general municipally owned
2-4 improvements, as well as any improvements or facilities that are
2-5 related to any of those projects and any other project that the
2-6 board in its discretion determines promotes or develops new or
2-7 expanded business enterprises; or
2-8 (C) be required or suitable for the promotion of
2-9 development and expansion of affordable housing, as defined by 42
2-10 U.S.C. Section 12745.
2-11 SECTION 2. The Development Corporation Act of 1979 (Article
2-12 5190.6, Vernon's Texas Civil Statutes) is amended by adding Section
2-13 4C to read as follows:
2-14 Sec. 4C. (a) Not later than February 1 of each year, the
2-15 board of directors of a corporation created under Section 4A or 4B
2-16 of this Act shall submit to the comptroller a report in the form
2-17 required by the comptroller.
2-18 (b) The reporting form shall not exceed one page in length
2-19 and must include:
2-20 (1) a statement of the corporation's primary economic
2-21 development objectives;
2-22 (2) a statement of the corporation's total revenues
2-23 during the preceding fiscal year;
2-24 (3) a statement of the corporation's total
2-25 expenditures during the preceding fiscal year;
2-26 (4) a statement of the corporation's total
2-27 expenditures during the preceding fiscal year in each of the
3-1 following categories:
3-2 (A) administration;
3-3 (B) personnel;
3-4 (C) marketing or promotion;
3-5 (D) direct business incentives;
3-6 (E) debt service;
3-7 (F) capital costs;
3-8 (G) affordable housing; and
3-9 (H) payments to taxing units, including school
3-10 districts;
3-11 (5) a list of the corporation's capital assets,
3-12 including land and buildings; and
3-13 (6) any other information the comptroller requires to
3-14 determine the use of the sales and use tax imposed under Section 4A
3-15 or 4B of this Act to encourage economic development in this state.
3-16 (c) If a corporation fails to file a report in accordance
3-17 with this section or fails to include sufficient information in the
3-18 report, the comptroller shall provide to the corporation written
3-19 notice of this failure. The written notice must include
3-20 information on how to correct the failure.
3-21 (d) The comptroller may impose an administrative penalty of
3-22 $200 against a corporation that does not correct the failure before
3-23 the 31st day after the date the corporation receives the written
3-24 notice under Subsection (c) of this section.
3-25 (e) The comptroller by rule shall prescribe the procedures
3-26 for the imposition of an administrative penalty under this section.
3-27 The rules must protect the due process rights of a corporation.
4-1 (f) Not later than November 1 of each even-numbered year,
4-2 the comptroller shall submit to the legislature a report on the use
4-3 of the sales and use tax imposed under Sections 4A and 4B of this
4-4 Act to encourage economic development in this state.
4-5 (g) On request, the comptroller shall provide without charge
4-6 a copy of the report required by Subsection (f) of this section to
4-7 a corporation organized under Section 4A or 4B of this Act.
4-8 SECTION 3. The importance of this legislation and the
4-9 crowded condition of the calendars in both houses create an
4-10 emergency and an imperative public necessity that the
4-11 constitutional rule requiring bills to be read on three several
4-12 days in each house be suspended, and this rule is hereby suspended,
4-13 and that this Act take effect and be in force from and after its
4-14 passage, and it is so enacted.
_______________________________ _______________________________
President of the Senate Speaker of the House
I certify that H.B. No. 1410 was passed by the House on April
17, 1997, by a non-record vote; that the House refused to concur in
Senate amendments to H.B. No. 1410 on May 15, 1997, and requested
the appointment of a conference committee to consider the
differences between the two houses; and that the House adopted the
conference committee report on H.B. No. 1410 on May 29, 1997, by
the following vote: Yeas 146, Nays 0, 1 present, not voting.
_______________________________
Chief Clerk of the House
I certify that H.B. No. 1410 was passed by the Senate, with
amendments, on May 13, 1997, by the following vote: Yeas 29, Nays
1; at the request of the House, the Senate appointed a conference
committee to consider the differences between the two houses; and
that the Senate adopted the conference committee report on H.B. No.
1410 on May 29, 1997, by the following vote: Yeas 31, Nays 0.
_______________________________
Secretary of the Senate
APPROVED: _____________________
Date
_____________________
Governor