HBA-DMD S.B. 313 76(R) BILL ANALYSIS Office of House Bill AnalysisS.B. 313 By: Madla State, Federal, & International Relations 5/20/1999 Engrossed BACKGROUND AND PURPOSE Currently, the Texas Department of Economic Development (department) is prohibited from designating more than two businesses in a single zone as defense readjustment projects. A company designated as a defense readjustment project qualifies for a tax refund of $2,500 for each new job that is retained by the project, and is allowed to make reductions of taxable capital within a zone. S.B. 313 prohibits the department from designating more than six businesses in a single readjustment zone as defense readjustment projects. 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. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 2310.303, Government Code, to prohibit the Texas Department of Economic Development from designating more than six, rather than two, businesses in a single readjustment zone as defense readjustment projects. SECTION 2. Provides that this Act takes effect only if a specific appropriation for the implementation of this Act is provided in H.B. No. 1, Acts of the 76th Legislature, Regular Session, 1999. Provides that if no specific appropriation is provided in H.B. No. 1, this Act has no effect. SECTION 3.Emergency clause. Effective date: 90 days after adjournment.