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Texas Statutes (Last Updated: January 4, 2014) |
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GOVERNMENT CODE |
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Title 10. GENERAL GOVERNMENT |
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Subtitle G. ECONOMIC DEVELOPMENT PROGRAMS INVOLVING BOTH STATE AND LOCAL GOVERNMENTS |
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Chapter 2303. ENTERPRISE ZONES |
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Subchapter G. ENTERPRISE ZONE BENEFITS |
Sec. 2303.503. STATE PREFERENCES
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(a) A state agency shall give preference to the governing body of an enterprise zone or a qualified business or qualified employee located in an enterprise zone over other eligible applicants for grants or loans that are administered by the state agency if:
(1) at least 50 percent of the grant or loan will be spent for the direct benefit of the enterprise zone; and
(2) the purpose of the grant or loan is to:
(A) promote economic development in the community; or
(B) construct, improve, extend, repair, or maintain public facilities in the community.
(b) The comptroller may and is encouraged to deposit state money in financial institutions located or doing business in enterprise zones.
(c) A state agency may and is encouraged to contract with businesses located in enterprise zones.
(d) The office may give preference to enterprise zones in granting economic development money or other benefits.