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78R6703 T


By:  Puente, Keffer of Eastland, Uresti,                          H.B. No. 667
 
    Menendez, Corte, et al.                                                  

Substitute the following for H.B. No. 667:                                    

By:  Hughes                                                   C.S.H.B. No. 667



A BILL TO BE ENTITLED

AN ACT

relating to the use of appropriations in the Smart Jobs Fund as 
business location incentives; making an appropriation.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  LEGISLATIVE FINDINGS.  The legislature finds 
that the use of public funds for the purpose of awarding grants as 
business location incentives for the diversification of the 
economy, the elimination of unemployment or underemployment, or the 
development or expansion of transportation or commerce is in the 
public interest and serves a public purpose of the state.
	SECTION 2.  BUSINESS LOCATION INCENTIVES.  (a)  The Texas 
Department of Economic Development is authorized to make grants to 
businesses locating within Texas for the purpose of diversifying 
the economy, reducing unemployment or underemployment, or 
developing or expanding transportation or commerce.  The department 
may develop procedures or adopt rules to implement this Act.
	(b)  From the amounts appropriated by Chapter 637, Acts of 
the 77th Legislature, Regular Session, 2001, and Chapter 1515, Acts 
of the 77th Legislature, Regular Session, 2001 (the General 
Appropriations Act), from Smart Jobs Fund No. 891 to the Texas 
Department of Economic Development in connection with the smart 
jobs program, the department is authorized to expend the 
unencumbered amount of $15,000,000 during the remainder of the 
fiscal year ending August 31, 2003, for business location 
incentives.
	(c)  The unexpended balance of funds described by Subsection 
(b) of this section remaining at the end of the fiscal year ending 
August 31, 2003, is appropriated from Smart Jobs Fund No. 891 to the 
Texas Department of Economic Development for the fiscal year 
beginning September 1, 2003, for business location incentives.
	SECTION 3.  EFFECTIVE DATE.  This Act takes effect 
immediately if it receives a vote of two-thirds of all the members 
elected to each house, as provided by Section 39, Article III, Texas 
Constitution.  If this Act does not receive the vote necessary for 
immediate effect, this Act takes effect September 1, 2003.