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


Senate Research Center   S.B. 313
76R3238  WP-DBy: Madla
Veterans Affairs and Military Installations
2/15/1999
As Filed


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 will increase the
number of businesses with the defense readjustment project designation to
six. 

PURPOSE

As proposed, 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.Emergency clause.
  Effective date:  upon passage.