Texas Register
(31 TexReg 2951).
The new rules are being adopted because Senate Bill 275 of the 78th Legislature
made substantive changes to the Program which require substantial changes
be made to the existing rules. The rules are needed because the statutory
changes to the Program require substantial changes be made to the existing
rules.
Section 176.1 sets forth the purpose and definitions for the chapter.
Section 176.2 sets forth procedures for local government participation
in the Program.
Section 176.3 sets forth requirements for designation as an Enterprise
Project and the number of eligible project designations available for municipalities
based on population.
Section 176.4 sets forth required elements for Enterprise Project designation
applications and authorizes the Bank to approve requests for concurrent project
designations, name changes and assignment or assumption of enterprise projects.
Section 176.5 sets forth the monitoring and reporting requirements for
program participants.
No comments were received regarding the proposed rules.
The rules are adopted under Texas Government Code, §2303.051(c),
which authorizes the executive director of the Office to adopt rules necessary
for the Program, and Texas Government Code, Chapter 2001, Subchapter B, which
prescribes the process for rulemaking by state agencies. Texas Government
Code, Chapter 481, creating the Office, Texas Government Code, Chapter 489,
creating the Economic Development Bank within the Office, and Texas Government
Code, Chapter 2303 are affected by the rules.
This agency hereby certifies that the adoption has been reviewed
by legal counsel and found to be a valid exercise of the agency's legal authority.
Filed with the Office of
the Secretary of State on May 8, 2006.
TRD-200602552
Tracye McDaniel
Executive Director
Office of the Governor, Economic Development and Tourism Division
Effective date: May 28, 2006
Proposal publication date: April 7, 2006
For further information, please call: (512) 936-0501