SRC-AXB S.B. 313 76(R)BILL ANALYSIS


Senate Research CenterS.B. 313
By: Madla
Veterans Affairs
6/22/1999
Enrolled


DIGEST 

Currently, the Texas Department of Economic Development is authorized to
designate two businesses in a single zone as defense readjustment projects.
A company with such designation qualifies for a tax refund of $2,500 for
each new job that is retained by the project, and is allowed to make
reductions of taxable capital within a zone.  This bill increases the
number of businesses with the defense readjustment project designation to
six. 

PURPOSE

As enrolled, S.B. 313 increases the number of businesses in a single
readjustment zone that the Texas Department of Economic Development is
authorized to designate as a defense readjustment project. 

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 2310.303, Government Code, to prohibit the Texas
Department of Economic Development from designating more than six, rather
than two, businesses in a single readjustment zone as defense readjustment
projects. 

SECTION 2.  Provides that this Act takes effect only if a specific
appropriation is made by the 76th Legislature.  Provides that this Act has
no effect if no specific appropriation is provided. 

SECTION 3.Emergency clause.
  Effective date:  90 days after adjournment.