TITLE: Relating to the creation of public facility corporations and requirements applicable to public facility corporations.

SUMMARY: Relating to the creation of public facility corporations and requirements applicable to public facility corporations.

FULL TEXT:
AN ACT relating to the creation of public facility corporations and requirements applicable to public facility corporations. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 303.021, Local Government Code, is amended by adding Subsection (c) to read as follows: (c) A corporation created under this chapter must remain a public facility corporation under this chapter. SECTION 2. Section 303.022, Local Government Code, is amended to read as follows: Sec. 303.022. CREATION UNDER OTHER LAW. A nonprofit corporation created by a housing authority under the Texas Non-Profit Corporation Act (Article 1396-1.01 et seq., Vernon's Texas Civil Statutes),regardless of the date the corporation is created, is considered a corporation under this chapter,[and] has the rights and powers necessary or convenient to accomplish a corporation's purposes under this chapter,and is subject to the requirements of this chapter.SECTION 3. This Act takes effect immediately if it receives a vote of two-thirds of all the members elected to each house, as provided by Section 39, Article III, Texas Constitution.