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By: Shapiro |
S.B. No. 1089 |
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(In the Senate - Filed March 2, 2007; March 14, 2007, read |
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first time and referred to Subcommittee on Emerging Technologies |
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and Economic Development; April 10, 2007, reported favorably from |
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Committee on Business and Commerce by the following vote: Yeas 9, |
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Nays 0; April 10, 2007, sent to printer.) |
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A BILL TO BE ENTITLED
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AN ACT
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relating to the authority of certain development corporations to |
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spend tax revenue on certain mass transit-related facilities. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. The Development Corporation Act of 1979 (Article |
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5190.6, Vernon's Texas Civil Statutes) is amended by adding Section |
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38A to read as follows: |
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Sec. 38A. A corporation created under Section 4A or 4B of |
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this Act may, as authorized by the corporation's board of |
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directors, spend tax revenue received under this Act for the |
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development, improvement, expansion, or maintenance of facilities |
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relating to the operation of commuter rail, light rail, or motor |
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buses. |
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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. |
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* * * * * |