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.