82R13504 ATP-D
 
  By: Reynolds, Zerwas H.B. No. 3302
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the authority of certain Type A economic development
  corporations to undertake certain categories of projects.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter D, Chapter 504, Local Government
  Code, is amended by adding Section 504.171 to read as follows:
         Sec. 504.171.  AUTHORITY OF CERTAIN CORPORATIONS TO
  UNDERTAKE TYPE B PROJECTS. (a) This section applies only to a Type
  A corporation the creation of which was authorized by a
  municipality:
               (1)  that has also authorized the creation of a Type B
  corporation; and
               (2)  that has a population of 7,500 or less.
         (b)  Notwithstanding Section 504.152, if permitted by
  ordinance of the authorizing municipality, a Type A corporation to
  which this section applies may undertake any project that a Type B
  corporation, the creation of which was authorized by the same
  municipality, may undertake under Chapter 505.
         (c)  The governing body of an authorizing municipality may by
  ordinance revoke any authority granted to a Type A corporation
  under Subsection (b). A revocation under this subsection does not
  affect the authority of a corporation to complete a project already
  undertaken or the obligation to repay any debt incurred in
  connection with a project under Subsection (b).
         SECTION 2.  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, 2011.