HBA-LJP, JLV H.B. 1592 77(R)BILL ANALYSIS


Office of House Bill AnalysisH.B. 1592
By: Kitchen
Economic Development
7/17/2001
Enrolled



BACKGROUND AND PURPOSE 

Research and development facilities may benefit the economic development of
a municipality by attracting skilled labor and employment opportunities to
the area.  Under the Development Corporation Act of 1979, an industrial
development corporation (IDC) may contract with a municipality to develop
and administer projects, funded with bonds or a sales tax option, to expand
a municipality's economy.  However, prior to the 77th Legislature, an IDC
did not have the authority to administer projects to develop research and
development facilities.  House Bill 1592 allows an IDC to promote the
development and expansion of research and development facilities. 

RULEMAKING AUTHORITY

It is the opinion of the Office of House Bill Analysis that this bill does
not expressly delegate any additional rulemaking authority to a state
officer, department, agency, or institution. 

ANALYSIS

House Bill 1592 amends the Development Corporation Act of 1979 to expand
the definition of "project" such that an industrial development corporation
may promote the development and expansion of research and development
facilities. 

EFFECTIVE DATE

June 14, 2001.