| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to the deadline for certain economic development |
|
|
corporations to file a certain report with the comptroller. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 502.151(a), Local Government Code, is |
|
|
amended to read as follows: |
|
|
(a) Not later than April [February] 1 of each year, the |
|
|
board of directors of a corporation shall submit a report to the |
|
|
comptroller that includes: |
|
|
(1) a statement of: |
|
|
(A) the corporation's primary economic |
|
|
development objectives; |
|
|
(B) the corporation's total revenue during the |
|
|
preceding fiscal year; |
|
|
(C) the corporation's total expenditures during |
|
|
the preceding fiscal year; and |
|
|
(D) the corporation's total expenditures during |
|
|
the preceding fiscal year in each of the following categories: |
|
|
(i) administration; |
|
|
(ii) personnel; |
|
|
(iii) marketing or promotion; |
|
|
(iv) direct business incentives; |
|
|
(v) job training; |
|
|
(vi) debt service; |
|
|
(vii) capital costs; |
|
|
(viii) affordable housing; and |
|
|
(ix) payments to taxing units, including |
|
|
school districts; |
|
|
(2) a list of the corporation's capital assets, |
|
|
including land and buildings; and |
|
|
(3) any other information the comptroller requires to |
|
|
determine the use of the sales and use tax imposed under Chapter 504 |
|
|
or 505 to encourage economic development in this state. |
|
|
SECTION 2. This Act takes effect September 1, 2019. |