BILL ANALYSIS
Senate Research Center S.B. 1412
By: Lucio
S/C on Emerging Technologies & Economic Dev.
AUTHOR'S/SPONSOR'S STATEMENT OF INTENT
A partnership between the business and education community is essential to meet the current need to expand jobs and workforce training in economically depressed areas.
The Greater Brownsville Incentives Corporation (GBIC), a 4A/4B corporation, has successfully used local revenue allowed under the Development Corporation Act for a full range of academic and training programs. For example, GBIC partnered with Texas Southmost College to invest $5.5 million to convert an abandoned shopping center into the International Technology and Education and Commerce Campus (ITECC), for use as a technology center and international trade center. Currently, the Mexican consulate, Brownsville Economic Development Council, and a small business incubator are housed in the ITECC facility, and more businesses and corporations will follow. A total of 750 jobs resulted from the ITECC project, with the small business incubator alone accountant for 300 job commitments. Additionally, there were 1,070 academic students in the fall semester involved in ITECC related programming and 2,300 students in the workforce training program.
As proposed, S.B.1412 expands the definition of eligible projects in the Development Corporation Act of 1979 to include educational facilities and learning centers.
RULEMAKING AUTHORITY
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Paragraph A, Subdivision (11), Section 2, Development Corporation Act of 1979 (Article 5190.6, V.T.C.S.), to redefine "project" to include educational facilities.
SECTION 2. Amends Subdivision (2), Subsection (a), Section 4B, Development Corporation Act of 1979 (Article 5190.6, V.T.C.S.), to redefine "project" to include learning centers.
SECTION 3. Effective date: September 1, 2005.