|
|
|
A BILL TO BE ENTITLED
|
|
AN ACT
|
|
relating to use of money from the Texas Enterprise Fund to retain |
|
businesses that are considering relocating outside this state. |
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
SECTION 1. (a) Money appropriated from the Texas |
|
Enterprise Fund under Section 481.078, Government Code, for the |
|
state fiscal biennium beginning September 1, 2009, and ending |
|
August 31, 2011, may be used for incentives to retain businesses in |
|
this state that are considering relocating to a location outside of |
|
this state. |
|
(b) This section expires January 1, 2012. |
|
SECTION 2. Section 481.078, Government Code, is amended by |
|
amending Subsection (c) and adding Subsection (m) to read as |
|
follows: |
|
(c) Except as provided by Subsection (d), the fund may be |
|
used only for economic development, infrastructure development, |
|
community development, job training programs, and business |
|
incentives, including incentives to retain businesses in this state |
|
that are considering relocating to a location outside of this |
|
state, subject to Subsection (m). |
|
(m) This subsection applies only to a state fiscal biennium |
|
on the first day of which the unemployment rate for this state, as |
|
determined by the federal Bureau of Labor Statistics, is seven |
|
percent or more. Money appropriated from the fund for a state |
|
fiscal biennium to which this subsection applies may be used for |
|
incentives to retain businesses in this state that are considering |
|
relocating to a location outside of this state. |
|
SECTION 3. (a) Except as provided by Subsection (b) of this |
|
section, this Act takes effect September 1, 2009. |
|
(b) The changes in law made by this Act to Section 481.078, |
|
Government Code, take effect September 1, 2011. |