FORTY-EIGHTH LEGISLATURE

FIRST SESSION, 2007

February 25, 2007

Mr. Speaker:

    Your BUSINESS AND INDUSTRY COMMITTEE, to whom has been referred

HOUSE BILL 1088

has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:

     1. On page 1, line 13, after the semicolon insert "PROHIBITING CERTAIN FUTURE CAPITAL PROJECTS;".

     2. On page 2, between lines 10 and 11, insert the following new section:

     "Section 3. CERTAIN CAPITAL PROJECTS PROHIBITED.--

          A. The legislature shall not approve or authorize any capital outlay projects within a Mesa del Sol tax increment development district during the period that any bonds issued pursuant to Section 1 of this act are outstanding for that specific district, except for those buildings or facilities that are owned by the state or one of its agencies, institutions or political subdivisions and that are:

                (1) public school buildings or facilities;

                (2) higher education buildings or facilities;

                (3) cultural buildings or facilities;

                (4) buildings or facilities used for public safety; or

                (5) buildings used for other public purposes.

          B. Nothing in this section prohibits the legislature from authorizing expenditures, pursuant to law, for economic development projects within a specific Mesa del Sol tax increment development district for which any tax increment development bonds are outstanding.".

     3. Renumber the succeeding section accordingly.,

and thence referred to the TAXATION AND REVENUE COMMITTEE.