1. (a) The board shall make a good faith effort to award to minority-owned businesses:

   1. (1) contracts relating to the issuance of bonds by the board under this chapter in the amount of at least 20 percent of the total costs of issuing those bonds; and
   2. (2) contracts for the items to be financed by bonds issued by the board in the amount of at least 20 percent of the proceeds of those bonds.

2. (b) Not later than October 31 of each year, the board shall file with the governor and each house of the legislature a written report containing the following information for the previous year for all businesses and for minority-owned businesses classified by minority group:

   1. (1) the total number of contracts relating to the issuance of bonds by the board under this chapter and to the items to be financed by those bonds;
   2. (2) the total dollar amount the board must pay under each contract described by Subdivision (1) of this subsection; and
   3. (3) the total number of businesses submitting bids or proposals relating to the issuance of bonds by the board under this chapter and to the items to be financed by those bonds.

3. (c) In this section:

   1. (1) "Minority-owned business" means a business entity at least 51 percent of which is owned by members of a minority group or, in the case of a corporation, at least 51 percent of the shares of which are owned by members of a minority group, and that is managed and controlled by members of a minority group in its daily operations.

   2. (2) "Minority group" includes:

      1. (A) African Americans;
      2. (B) American Indians;
      3. (C) Asian Americans; and
      4. (D) Mexican Americans and other Americans of Hispanic origin.

Added by Acts 1993, 73rd Leg., ch. 242, Sec. 1.15, eff. Aug. 30, 1993.