Tex. Gov't Code Section 2310.306
Defense Readjustment Project Designation


(a)

The bank may designate a qualified business as a defense readjustment project only if the bank determines that:

(1)

the business is a qualified business under Section 2310.302 (Qualified Business) that is located in or has made a substantial commitment to locate in a defense readjustment zone;

(2)

the governing body of the readjustment zone making the application has demonstrated that a high level of cooperation exists among public, private, and neighborhood entities in the zone; and

(3)

the designation will contribute significantly to the achievement of the plans of the governing body making the application for development and revitalization of the zone.

(b)

The bank shall designate qualified businesses as defense readjustment projects on a competitive basis. The bank shall make its designation decisions using a weighted scale in which:

(1)

50 percent of the evaluation is based on the effect of the loss of defense expenditures and employment on the community;

(2)

25 percent of the evaluation depends on the local effort to achieve development and revitalization of the readjustment zone; and

(3)

25 percent of the evaluation depends on the evaluation criteria as determined by the bank, which must include:

(A)

the level of cooperation and support the project applicant commits to the revitalization goals of the zone; and

(B)

the type and wage level of the jobs to be created or retained by the business.

(c)

The bank may remove a defense readjustment project designation if it determines that the business is not complying with a requirement for its designation.

(d)

The bank may designate the same qualified business in a readjustment zone as more than one defense readjustment project.
Added by Acts 1997, 75th Leg., ch. 114, Sec. 1, eff. May 19, 1997. Amended by Acts 2003, 78th Leg., ch. 356, Sec. 2, eff. June 18, 2003; Acts 2003, 78th Leg., ch. 814, Sec. 3.44, eff. Sept. 1, 2003.

Source: Section 2310.306 — Defense Readjustment Project Designation, https://statutes.­capitol.­texas.­gov/Docs/GV/htm/GV.­2310.­htm#2310.­306 (accessed Jun. 5, 2024).

2310.001
Definitions
2310.002
Jurisdiction of Municipality
2310.051
General Powers and Duties
2310.052
Evaluation
2310.053
Assistance
2310.054
Coordination with Other Governmental Entities
2310.101
Criteria for Readjustment Zone Designation
2310.102
Adversely Affected Defense-dependent Community
2310.103
Nomination of Readjustment Zone
2310.104
Nominating Ordinance or Order
2310.105
Application for Designation
2310.106
Review of Application
2310.107
Designation Agreement
2310.108
Denial of Application
2310.109
Period of Designation
2310.110
Amending Boundaries
2310.111
Removal of Designation
2310.201
Administration by Governing Body
2310.202
Administration by Administrative Authority
2310.203
Liaison
2310.204
Annual Report
2310.301
Definition
2310.302
Qualified Business
2310.303
Prohibition on Qualified Business Certification
2310.304
Request for Application for Defense Readjustment Project Designation
2310.305
Application for Defense Readjustment Project Designation
2310.306
Defense Readjustment Project Designation
2310.307
Allocation of Jobs Eligible for Tax Refund
2310.308
Duration of Certain Designations
2310.401
Exemptions from State Regulation
2310.402
Review of State Agency Rules
2310.403
State Preferences
2310.404
State Tax Refunds and Credits
2310.405
Local Sales and Use Tax Refunds
2310.406
Reduction or Elimination of Local Fees or Taxes
2310.407
Tax Increment Financing and Abatement
2310.408
Development Bonds
2310.409
Other Local Incentives
2310.410
Disposition of Public Property in Readjustment Zone
2310.411
Waiver of Performance Bond
2310.412
Liability of Contractor or Architect
2310.413
Monitoring Defense Readjustment Project Commitments

Accessed:
Jun. 5, 2024

§ 2310.306’s source at texas​.gov