HBA-SEP H.B. 1710 77(R) BILL ANALYSIS Office of House Bill AnalysisH.B. 1710 By: Brimer Ways & Means 3/15/2001 Introduced BACKGROUND AND PURPOSE Current law places a $135 million aggregate limitation on the amount of bonds and other obligations issued by a 4B development corporation in a larger city to pay the costs of development corporation projects. However, current law does not place a limit on the amount of bonds issued by a 4A development corporation in a city with a population of less than 50,000 or located in a county with a population of 500,000 or less. House Bill 1710 removes the $135 million cap for a city that is located in a county with a population of 750,000 or more or for a city that has a population of 400,000 or more. RULEMAKING AUTHORITY It is the opinion of the Office of House Bill Analysis that this bill does not expressly delegate any additional rulemaking authority to a state officer, department, agency, or institution. ANALYSIS House Bill 1710 amends the Development Corporation Act of 1979 to remove the $135 million cap for the principal amount of bonds and other obligations payable from the sales and use tax, together with the amount of the costs of the projects, other than interest on bonds and other obligations, for which payment is made in cash directly from the proceeds of tax. EFFECTIVE DATE September 1, 2001.