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A BILL TO BE ENTITLED
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AN ACT
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relating to financial assistance to local governmental entities |
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affected by the realignment of defense jobs or facilities. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 436.1531(a), Government Code, is amended |
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to read as follows: |
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(a) The office may provide a loan of financial assistance to |
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a defense community for an economic development project that |
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minimizes the negative effects of a defense base reduction on the |
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defense community as a result of a United States Department of |
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Defense base realignment process that occurs during 1995 [2005] or |
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later. The loan shall be made from the Texas military value |
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revolving loan account established under Section 436.156. |
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SECTION 2. Section 436.202(b), Government Code, is amended |
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to read as follows: |
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(b) The commission may not make a grant for an amount less |
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than $50,000 or an amount more than $5 [the lesser of:
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[(1)
50 percent of the amount of matching money or
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investment that the local governmental entity is required to
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provide, subject to Subsection (c);
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[(2)
50 percent of the local governmental entity's
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investment for purposes described by Section 436.203 if federal
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assistance is unavailable; or
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[(3) $2] million. |
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SECTION 3. Section 436.202(c), Government Code, is |
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repealed. |
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SECTION 4. 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, 2015. |