By: Deuell S.B. No. 1640

(In the Senate - Filed March 8, 2013; March 20, 2013, read first time and referred to Committee on Economic Development; April 11, 2013, reported favorably by the following vote: Yeas 5, Nays 0; April 11, 2013, sent to printer.)

A BILL TO BE ENTITLED

AN ACT

relating to the allocation of enterprise project designations during a biennium.

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

SECTION 1. Section 2303.403, Government Code, is amended to read as follows:

Sec. 2303.403. PROHIBITION ON QUALIFIED BUSINESS CERTIFICATION; LIMIT ON ENTERPRISE PROJECT DESIGNATIONS. (a) If the bank determines that the governing body eligible to nominate an enterprise project is not complying with this chapter, the bank shall prohibit the certification of a qualified business until the bank determines that the governing body is complying with this chapter.

(b) The bank may not designate more than 105 enterprise projects during any biennium. Any designations remaining at the end of a biennium may be carried forward to the next biennium.

(c) The bank may 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. This Act takes effect September 1, 2013.

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