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Government Code - CHAPTER 2303 Page 22 of 28 (2) report the results of the review to the department. (c) The department shall disseminate the reports to the governing bodies of enterprise zones and others as necessary to advance the purposes of this chapter. (d) To contribute to the implementation of this chapter, an agency may waive, modify, provide exemptions to, or otherwise minimize the adverse effects of the rules it administers on the renovation, improvement, or new construction of housing in enterprise zones or on the economic viability and profitability of business and commerce in enterprise zones. Added by Acts 1993, 73rd Leg., ch. 268, § 1, eff. Sept. 1, 1993. § 2303.503. State Preferences (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 department may give preference to enterprise zones in granting economic development money or other benefits. Added by Acts 1993, 73rd Leg., ch. 268, § 1, eff. Sept. 1, 1993. Amended by Acts 1997, 75th Leg., ch. 1423, § 8.71, eff. Sept. 1, 1997. § 2303.504. State Tax Refunds and Deduction; Report (a) An enterprise project is entitled to: (1) a refund of state taxes under Section 151.429, Tax Code; and (2) a deduction from taxable capital under Section 171.1015, Tax Code. (b) A qualified business is entitled to a refund of state taxes under Sections 151.431 and 171.501, Tax Code. (c) Not later than the 60th day after the last day of each fiscal year, the comptroller shall report to the ://www.capitol.state.tx.us/statutes/go/go230300.html 1/12/2002