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A BILL TO BE ENTITLED
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AN ACT
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relating to use of sales and use tax proceeds by economic |
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development corporations in connection with housing facilities for |
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certain institutions of higher education. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter D, Chapter 501, Local Government |
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Code, is amended by adding Section 501.163 to read as follows: |
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Sec. 501.163. USE OF TAX REVENUE FOR HOUSING FACILITIES FOR |
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PUBLIC STATE COLLEGES. (a) In this section: |
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(1) "Housing facility" has the meaning assigned by |
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Section 53.02, Education Code. |
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(2) "Public state college" has the meaning assigned by |
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Section 61.003, Education Code. |
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(b) A corporation may spend tax revenue received under this |
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subtitle for expenditures that are for the development or |
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construction of housing facilities on or adjacent to the campus of a |
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public state college. |
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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, 2013. |