Amend HB 3029 by inserting the following appropriately
numbered section and renumbering subsequent sections appropriately:
SECTION ____. The Development Corporation Act of 1979
(Article 5190.6, Vernon's Texas Civil Statutes) is amended by
adding an appropriately numbered section to read as follows:
(a) For purposes of this section, a "defense base
development corporation" means a corporation established under
Section 4B, Development Corporation Act of 1979 (Article 5190.6,
Vernon's Texas Civil Statutes), for the purpose of promoting
projects regarding a military base closure or realignment under the
Defense Base Closure and Realignment Act of 1990 (10 U.S.C. Section
2687 note) and its subsequent amendments.
(b) Each of the following acts of a defense base development
corporation is validated and confirmed as of the date it occurred:
(1) each act or proceeding of the corporation taken
before March 1, 1999;
(2) the election or appointment and each act of a
director or other official of the corporation who took office
before the effective date of this Act;
(3) each act or proceeding relating to a bond or other
obligation of the corporation authorized before the effective date
of this Act; and
(4) each act or proceeding relating to the entity's
incorporation under the Development Corporation Act of 1979
(Article 5190.6, Vernon's Texas Civil Statutes).
(c) This section does not apply to:
(1) an act, proceeding, bond, or obligation the
validity of which is the subject of litigation that is pending on
the effective date of this Act;
(2) an election or appointment of a director or
official the validity of which is the subject of litigation that is
pending on the effective date of this Act;
(3) an act or proceeding that was void or that, under
a statute of this state at the time the action or proceeding
occurred, was a misdemeanor or felony; or
(4) an act or proceeding that has been held invalid by
a final judgment of a court.