BILL ANALYSIS

 

 

Senate Research Center                                                                                                        S.B. 937

79R6296 ATP-D                                                                                                     By: West, Royce

                                                                             S/C on Emerging Technologies & Economic Dev.

                                                                                                                                              4/7/2005

                                                                                                                                              As Filed

 

 

AUTHOR'S/SPONSOR'S STATEMENT OF INTENT

 

Until the passage of H.B. 2912, 78th Legislature, Regular Session, 2003, landlocked cities were able to utilize funds provided under Section 4B, Development Corporation Act of 1979 (Article 5190.60, V.C.T.S.), to promote economic development projects.  H.B. 2912, 78th Legislature, Regular Session, 2003, revised the definition of "project," which disallowed the use of such funds as incentives for retail development.

 

S.B. 937 allows landlocked cities to utilize Section 4B funds to promote and/or develop new or expanded business enterprises and commercial activity, specifically retail projects.

 

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), Development Corporation Act of 1979 (Article 5190.6, V.T.C.S.), to redefine "project."

 

SECTION 2.  Amends Section 4B, Development Corporation Act of 1979 (Article 5190.6, V.T.C.S.), by adding Subsection (a-6), to define "land-locked community" and "project."

 

SECTION 3.  Makes application of this Act prospective.

 

SECTION 4.  Effective date: upon passage or September 1, 2005.