By: Hinojosa S.B. No. 1743

(In the Senate - Filed March 11, 2009; March 20, 2009, read first time and referred to Committee on Economic Development; April 1, 2009, reported adversely, with favorable Committee Substitute by the following vote: Yeas 3, Nays 0; April 1, 2009, sent to printer.)

COMMITTEE SUBSTITUTE FOR S.B. No. 1743 By: Watson

A BILL TO BE ENTITLED

AN ACT

relating to the use of money from the Texas Enterprise Fund to recruit automotive manufacturing facilities.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. Section 481.078, Government Code, is amended by adding Subsection (e-2) to read as follows:

(e-2) Notwithstanding Subsection (e-1), a municipality, a development corporation authorized to be created by the municipality, or both the municipality and a development corporation authorized to be created by the municipality are eligible to receive a grant under this section for the purpose of recruiting an automotive manufacturing facility. A particular municipality, including all of the municipality's related development corporations, may not receive more than $50 million in grants under this subsection in a state fiscal year. A municipality may apply for a grant under this section in the same manner as a business entity. In this subsection, "development corporation" means a corporation authorized to be created by a municipality under the Development Corporation Act (Subtitle C1, Title 12, Local Government Code).

SECTION 2. This Act takes effect September 1, 2009.

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