RULE §176.4 Application for Designation of Enterprise Projects

Published: 2015

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  (2) a completed Enterprise Project Assignment Application,
along with a non-refundable cashiers check or money order made payable
to Office of the Governor for a processing fee;
  (3) a written relinquishment from the designated project's
qualified business to the governing body and Bank to release all claim
to the project designation and any benefits represented thereunder
and agreeing to the assignment of the designation as of a specific
date by the purchaser seeking to assume the designation;
  (4) a written certification from the purchaser on a
form to be provided by the Bank that the purchaser will be a qualified
business under the Act, §2303.402;
  (5) a letter of commitment from the purchaser addressed
to the governing body and the Bank in the same format as the letter
of commitment filed in the original application for project designation
by the initial qualified business. The letter should outline any modifications
proposed by the purchaser to the original commitments made by the
qualified business holding the project designation, including capital
investment and jobs to be created or retained, as applicable, and
a statement as to why the assignment is essential to their operations
at the qualified business site;
  (6) a Comptroller of Public Accounts tax identification
number and federal tax identification number for the purchaser; and
  (7) a copy of the purchasers' articles of incorporation
filed with the State of Texas Secretary of State, or the dba statement
under which the business operates.
(i) A qualified business may be designated as an enterprise
project for no less than one year and no longer than five years. The
designation of a qualified business as an enterprise project shall
remain in effect during the period beginning on the date of the designation
and ending on the earliest of:
  (1) the date requested in the application for designation
as an enterprise project as indicated in the nominating ordinance,
order or resolution, as applicable;
  (2) five years after the date the designation is made;
  (3) the last day that completes the original project
designation period of a qualified business that has assumed the designation
of the enterprise project designation through or purchase of a designated
qualified business for the purpose of continuing its operations at
the applicable qualified business; or
  (4) the date the Bank notifies the qualified business
and the governing body that the qualified business is not in compliance
with any requirement for designation as an enterprise project.

Source Note: The provisions of this §176.4 adopted to be effective May 28, 2006, 31 TexReg 4420; amended to be effective November 10, 2011, 36 TexReg 7545; amended to be effective January 4, 2015, 39 TexReg 10420