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Amend SB 1523 by adding new sections as follows:
SECTION ____. Section 4B, Development Corporation Act of 1979
(Article 5190.6, Vernon's Texas Civil Statutes), is amended by
adding Subsection (e-2) to read as follows:
(e-2) At an election called and held under Subsection (d) of
this section, the eligible city may also allow the voters to vote on
a ballot proposition that limits the length of time that a sales and
use tax may be imposed. An eligible city that imposes a tax for a
limited time under this subsection may later extend the period of
the tax's imposition or reimpose the tax only if the extension or
reimposition is authorized by a majority of the qualified voters of
the city voting in an election called and held for that purpose in
the same manner as an election held under Section 4A(n) of this Act.
Additionally, at an election held under Subsection (d) of this
section, the city may also allow the voters to vote on a ballot
proposition that limits the use of the sales and use tax to a
specific project. A corporation that has been created to perform a
specific project as provided by this subsection may retain its
corporate existence and perform other projects as may be approved
by the voters of the city under an election called and held for that
purpose in the same manner as Section 4A(r) of this Act provides for
an election held under Section 4A(d) of this Act. Before expending
funds to undertake a project, a corporation shall hold a public
hearing as otherwise provided by this section.
SECTION____. Section 4B(n), Development Corporation Act of
1979 (Article 5190.6, Vernon's Texas Civil Statutes), is amended to
read as follows:
(n) Before expending funds to undertake a project, a
corporation under this section shall hold at least one public
hearing on the proposed project. A corporation the creation of
which was authorized by an eligible city with a population of less
than 20,000 is not required to hold a public hearing under this
subsection if the proposed project is defined by Section 2 of this
Act.