2003S0180-1 01/31/03
By: Puente 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.
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) From the
amounts appropriated by 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.
(b) The unexpended balance of funds described by Subsection
(a) 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.