Amend CSHB 2686 as follows:
      (1)  On page 4, line 5, through page 6, line 4, strike
SECTIONS 6, 7, and 8 of the bill.
      (2)  Renumber SECTIONS 9-18 of the bill as SECTIONS 6-15,
respectively.
      (3)  On page 11, line 14, strike "Subsection (c)" and
substitute "Subsection (b)".
      (4)  On page 11, strike lines 23-27.
      (5)  On page 12, strike lines 1-2 and substitute the
following:
      (b)  Sections 8-13 of this Act take effect January 1, 2003,
and apply to a report originally due on or after that date.
Notwithstanding any other law, an enterprise project or defense
readjustment project designated on or after January 1, 2001, may,
beginning on the date the project is designated, establish credits
as provided by the changes in law made by Sections 8-13 of this Act
but may only claim the credits on reports due on or after January
1, 2003.
      (c)  Subject to Section 151.429(f), Tax Code, an enterprise
project or defense readjustment project designated on or after
September 1, 2001, may apply for a refund for which the project is
entitled under Sections 151.429(a)(1)-(4), Tax Code, as provided by
Section 151.429, Tax Code.  The comptroller may pay the refund as
provided by Section 151.429, Tax Code, and other law.
      (d)  Subject to Section 151.429(f), Tax Code, an enterprise
project or defense readjustment project designated on or after
September 1, 2001, may accrue the right to a refund for which the
project is entitled under Sections 151.429(a)(5) and (6), Tax Code,
as added by this Act, and may apply for that refund as provided by
Section 151.429, Tax Code.  However, the comptroller may not pay a
refund described by this subsection before September 1, 2003.
Notwithstanding any other law, for purposes of determining whether
interest accrues on a refund application submitted before September
1, 2003, the comptroller is considered to have made a final
decision on the application for the refund on September 1, 2003.
      (6)  On page 12, line 3, strike "(d)" and substitute "(e)".