SRC-MWN H.B. 1592 77(R)   BILL ANALYSIS


Senate Research Center   H.B. 1592
By: Kitchen (Van de Putte)
Business & Commerce
5/4/2001
Engrossed


DIGEST AND PURPOSE 

Research and development facilities may benefit the economic development of
a municipality by attracting skilled labor and employment opportunities to
the area. Under the Development Corporation Act of 1979, an industrial
development corporation (IDC) may contract with a municipality to develop
and administer projects, funded with bonds or a sales tax option, to expand
a municipality's economy. An IDC, however, does not have the authority to
administer projects to develop research and development facilities. H.B.
1592 allows an IDC to promote the development and expansion of research and
development facilities.  

RULEMAKING AUTHORITY

This bill does not expressly grant any additional rulemaking authority to a
state officer, institution, or agency. 

SECTION BY SECTION ANALYSIS

SECTION 1. Amends Section 2(11)(A), Development Corporation Act of  1979
(Article 5190.6, V.T.C.S.), to redefine "project" to include research and
development facilities. 

SECTION 2. Effective date: upon passage or September 1, 2001.