Bill Text: TX SB1222 | 2021-2022 | 87th Legislature | Introduced
Bill Title: Relating to the authority of a development corporation created by the Gulf Coast Authority to finance certain projects.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2021-04-19 - Left pending in committee [SB1222 Detail]
Download: Texas-2021-SB1222-Introduced.html
87R516 SLB-D | ||
By: Taylor | S.B. No. 1222 |
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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 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. If this | ||
Act does not receive the vote necessary for immediate effect, this | ||
Act takes effect September 1, 2021. |