HBA-KDB H.B. 3391 77(R)    BILL ANALYSIS


Office of House Bill AnalysisH.B. 3391
By: Oliveira
Ways & Means
3/30/2001
Introduced



BACKGROUND AND PURPOSE 

The 76th Legislature created strategic investment areas, which are counties
with above average unemployment and below average per capita income, and in
which franchise tax  exemptions may be granted to businesses conducting
research and development activities.  Currently, Texas is one of several
states competing for the placement of a commercial spaceport, a project
through which a conglomerate of aerospace companies would be able to launch
reusable spacecraft to deliver cargo into space.  If a county that has a
spaceport within its boundaries is considered a strategic investment area,
then the state may have a greater chance in  securing the project.  House
Bill 3391 adds to the definition of "strategic investment area" a county
that has a spaceport within its boundaries. 

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 3391 amends the Tax Code to add to the definition of "strategic
investment area" a county within this state that has a spaceport within its
boundaries. 

EFFECTIVE DATE

January 1, 2002.