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A BILL TO BE ENTITLED
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AN ACT
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relating to enterprise project half designations under the |
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enterprise zone program. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 2303.406, Government Code, is amended by |
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adding Subsection (d-1) to read as follows: |
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(d-1) An enterprise project designation may be split into |
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two half designations. |
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SECTION 2. Section 2303.407, Government Code, is amended by |
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adding Subsection (e) to read as follows: |
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(e) The maximum number of jobs that the bank may allocate to |
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an enterprise project split into two half designations as provided |
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by Section 2303.406(d-1) is 250. |
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SECTION 3. Section 2303.4071, Government Code, is amended |
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by amending Subsection (a) and adding Subsection (e) to read as |
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follows: |
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(a) In this section: |
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(1) "Double [,"double] jumbo enterprise project" and |
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"triple jumbo enterprise project" have the meanings assigned by |
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Section 2303.407. |
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(2) "Half enterprise project" means an enterprise |
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project split into two half designations as provided by Section |
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2303.406(d-1). |
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(e) A half enterprise project is eligible for a maximum |
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refund of $125,000 in each state fiscal year. |
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SECTION 4. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2013. |