BILL ANALYSIS

 

 

Senate Research Center

S.B. 1640

83R9678 ATP-D

By: Deuell

 

Economic Development

 

3/29/2013

 

As Filed

 

 

 

AUTHOR'S / SPONSOR'S STATEMENT OF INTENT

 

S.B. 1640 amends the Government Code by allowing the Texas Economic Development Bank to allocate the total number of enterprise project designations available in a biennium under Subsection (b) among two annual or four semiannual periods so that a nearly equal number of designations are available to be awarded in each annual or semiannual period.

 

As proposed, S.B. 1640 amends current law relating to the allocation of enterprise project designations during a biennium.

 

RULEMAKING AUTHORITY

 

This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.

 

SECTION BY SECTION ANALYSIS

 

SECTION 1.  Amends Section 2303.403, Government Code, as follows:

 

Sec. 2303.403.  PROHIBITION ON QUALIFIED BUSINESS CERTIFICATION; LIMIT ON ENTERPRISE PROJECT DESIGNATIONS.  (a) Creates this subsection from existing text.  Requires the Texas Economic Development Bank established under Chapter 489 (Texas Economic Development Bank) (bank), if the bank determines that the governing body eligible to nominate an enterprise project is not complying with this chapter, to prohibit the certification of a qualified business until the bank determines that the governing body is complying with this chapter (Enterprise Zones).

 

(b) Creates this subsection from existing text.  Prohibits the bank from designating more than 105 enterprise projects during any biennium.  Authorizes any designations remaining at the end of a biennium to be carried forward to the next biennium.

 

(c) Authorizes the bank to allocate the total number of enterprise project designations available in a biennium under Subsection (b) among two annual or four semiannual periods so that a nearly equal number of designations are available to be awarded in each annual or semiannual period.

 

SECTION 2.  Effective date: September 1, 2013.