By Oliveira H.J.R. No. 30 76R2266 CBH-D A JOINT RESOLUTION 1-1 proposing a constitutional amendment authorizing targeted tax 1-2 incentives for economic development. 1-3 BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-4 SECTION 1. Section 52-a, Article III, Texas Constitution, is 1-5 amended to read as follows: 1-6 Sec. 52-a. Notwithstanding any other provision of this 1-7 constitution, including Section 1(a), Article VIII, the legislature 1-8 may provide for the creation of programs, including targeted tax 1-9 incentive programs, and the making of loans and grants of public 1-10 money, other than money otherwise dedicated by this constitution 1-11 to use for a different purpose, for the public purposes of 1-12 development and diversification of the economy of the state, the 1-13 elimination of unemployment or underemployment in the state, the 1-14 stimulation of agricultural innovation, the fostering of the growth 1-15 of enterprises based on agriculture, or the development or 1-16 expansion of transportation or commerce in the state. Any bonds or 1-17 other obligations of a county, municipality, or other political 1-18 subdivision of the state that are issued for the purpose of making 1-19 loans or grants in connection with a program authorized by the 1-20 legislature under this section and that are payable from ad valorem 1-21 taxes must be approved by a vote of the majority of the registered 1-22 voters of the county, municipality, or political subdivision voting 1-23 on the issue. An enabling law enacted by the legislature in 1-24 anticipation of the adoption of this amendment is not void because 2-1 of its anticipatory character. 2-2 SECTION 2. This proposed constitutional amendment shall be 2-3 submitted to the voters at an election to be held November 2, 1999. 2-4 The ballot shall be printed to permit voting for or against the 2-5 proposition: "Authorizing the legislature to enact targeted tax 2-6 incentives for economic development."