H.B. No. 2755
AN ACT
relating to the authority of certain development corporations to
undertake projects for the development, retention, or expansion of
business enterprises.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 4B(a)(2), Development Corporation Act of
1979 (Article 5190.6, Vernon's Texas Civil Statutes), is amended to
read as follows:
(2) "Project" means land, buildings, equipment,
facilities, expenditures, and improvements included in the
definition of that term under Section 2 of this Act, and includes
job training as provided by Section 38 of this Act. For purposes of
this section, the term includes recycling facilities, and land,
buildings, equipment, facilities, and improvements found by the
board of directors to:
(A) be required or suitable for use for
professional and amateur (including children's) sports, athletic,
entertainment, tourist, convention, and public park purposes and
events, including stadiums, ball parks, auditoriums,
amphitheaters, concert halls, parks and park facilities, open space
improvements, museums, exhibition facilities, and related store,
restaurant, concession, and automobile parking facilities, related
area transportation facilities, and related roads, streets, and
water and sewer facilities, and other related improvements that
enhance any of those items;
(B) promote or develop new or expanded business
enterprises that create or retain primary jobs, including a project
to provide public safety facilities, streets and roads, drainage
and related improvements, demolition of existing structures,
general municipally owned improvements, as well as any improvements
or facilities that are related to any of those projects and any
other project that the board in its discretion determines promotes
or develops new or expanded business enterprises that create or
retain primary jobs;
(C) be required or suitable for the promotion of
development and expansion of affordable housing, as defined by 42
U.S.C. Section 12745;
(D) be required or suitable for the development
or improvement of water supply facilities, including dams,
transmission lines, well field developments, and other water supply
alternatives; [or]
(E) be required or suitable for the development
and institution of water conservation programs, including
incentives to install water-saving plumbing fixtures, educational
programs, brush control programs, and programs to replace
malfunctioning or leaking water lines and other water facilities;
or
(F) be required or suitable for the development,
retention, or expansion of business enterprises if the project is
undertaken by a corporation created by an eligible city:
(i) that has not for each of the preceding
two fiscal years received more than $50,000 in revenues from sales
and use taxes imposed under this section; and
(ii) the governing body of which has
authorized the project by adopting a resolution only after giving
the resolution at least two separate readings conducted at least
one week apart.
SECTION 2. 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, 2005.
______________________________ ______________________________
President of the Senate Speaker of the House
I certify that H.B. No. 2755 was passed by the House on May 9,
2005, by the following vote: Yeas 146, Nays 0, 1 present, not
voting.
______________________________
Chief Clerk of the House
I certify that H.B. No. 2755 was passed by the Senate on May
25, 2005, by the following vote: Yeas 31, Nays 0.
______________________________
Secretary of the Senate
APPROVED: _____________________
Date
_____________________
Governor