| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to authorizing certain projects to be undertaken in |
|
|
response to a disaster by certain economic development |
|
|
corporations. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Subchapter D, Chapter 505, Local Government |
|
|
Code, is amended by adding Section 505.162 to read as follows: |
|
|
Sec. 505.162. PROJECTS RELATED TO RECOVERY FROM DISASTER. |
|
|
(a) For purposes of this chapter, "project" includes a project |
|
|
described by Subsection (b). |
|
|
(b) A Type B corporation may undertake the following |
|
|
projects only in direct connection with a disaster that has been |
|
|
declared by the governor under Section 418.014, Government Code, or |
|
|
by the president of the United States: |
|
|
(1) a grant or loan of money to a business enterprise |
|
|
damaged by a disaster, including a grant or loan for the temporary |
|
|
relocation of the business or the repair or elevation of the |
|
|
business's infrastructure; and |
|
|
(2) action to strengthen the work force in and |
|
|
stabilize the economy of the authorizing municipality. |
|
|
(c) In addition to any other requirement of this chapter, a |
|
|
project authorized by this section must be: |
|
|
(1) approved by the governing body of the Type B |
|
|
corporation's authorizing municipality; |
|
|
(2) undertaken not later than the second anniversary |
|
|
of the date of the disaster declaration; and |
|
|
(3) sufficiently documented to allow the governing |
|
|
body of the Type B corporation's authorizing municipality to |
|
|
provide oversight of the project. |
|
|
SECTION 2. This Act takes effect on the 91st day after the |
|
|
last day of the legislative session. |