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A BILL TO BE ENTITLED
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AN ACT
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relating to the requirement that certain economic development |
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corporations hold a hearing before spending funds to undertake a |
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project. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 4B(n), Development Corporation Act of |
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1979 (Article 5190.6, Vernon's Texas Civil Statutes), is amended to |
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read as follows: |
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(n) Before expending funds to undertake a project other than |
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a project defined by Section 2 of this Act, a corporation under this |
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section shall hold at least one public hearing on the proposed |
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project. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2007. |