By: Taylor S.B. No. 2072

(In the Senate - Filed March 7, 2019; March 21, 2019, read first time and referred to Committee on Intergovernmental Relations; April 26, 2019, reported adversely, with favorable Committee Substitute by the following vote: Yeas 6, Nays 1; April 26, 2019, sent to printer.) Click here to see the committee vote

COMMITTEE SUBSTITUTE FOR S.B. No. 2072 By: Alvarado

A BILL TO BE ENTITLED

AN ACT

relating to the authority of a development corporation created by the Gulf Coast Authority to finance certain projects.

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

SECTION 1. Section 3.01, Chapter 409, Acts of the 61st Legislature, Regular Session, 1969, is amended by adding Subsection (g) to read as follows:

(g) A development corporation created by the authority under Chapter 501, Local Government Code, may finance:

(1) projects described by Subchapter C, Chapter 501, Local Government Code, located inside or outside this state; and

(2) qualified improvements as defined by Section 399.002, Local Government Code, located inside or outside this state in the same manner and to the same extent as a municipality or county may do so under Chapter 399 of that code.

SECTION 2. This Act takes effect September 1, 2019.

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