TITLE: Relating to the number of enterprise projects the Texas Economic Development Bank may designate under the enterprise zone program.

SUMMARY: Relating to the number of enterprise projects the Texas Economic Development Bank may designate under the enterprise zone program.

FULL TEXT:
AN ACT relating to the number of enterprise projects the Texas Economic Development Bank may designate under the enterprise zone program. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 2303.403, Government Code, is amended to read as follows: Sec. 2303.403. PROHIBITION ON QUALIFIED BUSINESS CERTIFICATION; LIMIT ON ENTERPRISE PROJECT DESIGNATIONS. If the bank determines that the governing body eligible to nominate an enterprise project is not complying with this chapter, the bank shall prohibit the certification of a qualified business until the bank determines that the governing body is complying with this chapter. The bank may not designate more than 210 [105] enterprise projects during any biennium. Any designations remaining at the end of a biennium may be carried forward to the next biennium. SECTION 2. 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.