By: Deshotel H.B. No. 1467
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to reservations of the state ceiling and priority
  carryforward classifications for certain projects under the
  private activity bond allocation program.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 1372.031, Government Code, is amended to
  read as follows:
         Sec. 1372.031.  PRIORITIES FOR RESERVATIONS AMONG CERTAIN
  ISSUERS. (a)  Except as provided by Subsection (b) and subject
  [Subject] to Sections 1372.0321 and 1372.0231, if, on or before
  October 20, more than one issuer in a category described by Section
  1372.022(a)(2), (3), (4), or (6) applies for a reservation of the
  state ceiling for the next program year, the board shall grant
  reservations in that category in the order determined by the board
  by lot.
         (b)  Within the category described by Section
  1372.022(a)(6), the board shall grant priority to the Texas
  Economic Development Bank for projects that the Texas Economic
  Development and Tourism Office determines meet the governor's
  criteria for funding from the Texas Enterprise Fund.
  Notwithstanding the priority, the Texas Economic Development Bank
  may not receive an amount greater than one-fourth of the portion of
  the state ceiling available under Section 1372.022(a)(6) on January
  1 of the program year.
         (c)  In selecting projects for reservations of the state
  ceiling for a program year under Subsection (b), among those
  projects the Texas Economic Development and Tourism Office
  determines meet the governor's criteria for funding from the Texas
  Enterprise Fund the office shall give priority to obtaining
  reservations for those projects located or to be located in an
  economically depressed or blighted area, as defined by Section
  2306.004, or in an enterprise zone designated under Chapter 2303.
         (d)  This section and Section 1372.063 do not give a priority
  to any project described by Subsection (b) for the purpose of
  selecting projects for reservations under Section 1372.022(b).
         SECTION 2.  Section 1372.063, Government Code, is amended to
  read as follows:
         Sec. 1372.063.  PRIORITY 1 CARRYFORWARD CLASSIFICATION. The
  priority 1 carryforward classification applies to:
               (1)  an issuer of a state-voted issue; and
               (2)  a state agency, other than an issuer of a
  state-voted issue, that applies for a carryforward designation for
  a project that:
                     (A)  is described by Section 1372.067(a)(2); and
                     (B)  the Texas Economic Development and Tourism
  Office determines meets the governor's criteria for funding from
  the Texas Enterprise Fund.
         SECTION 3.  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, 2007.