Bill Text: TX SB1069 | 2011-2012 | 82nd Legislature | Engrossed
Bill Title: Relating to the Texas emerging technology fund reporting requirement.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Engrossed - Dead) 2011-05-23 - Postponed [SB1069 Detail]
Download: Texas-2011-SB1069-Engrossed.html
By: Jackson | S.B. No. 1069 |
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relating to the Texas emerging technology fund reporting | ||
requirement. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Subsections (a) and (b), Section 490.005, | ||
Government Code, are amended to read as follows: | ||
(a) Not later than January 31 [ |
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shall submit to the lieutenant governor, the speaker of the house of | ||
representatives, and the standing committee of each house of the | ||
legislature with primary jurisdiction over economic development | ||
matters and post on the office of the governor's Internet website a | ||
report that includes the following information regarding awards | ||
made under the fund during each [ |
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fiscal year [ |
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(1) the total number and amount of awards made; | ||
(2) the number and amount of awards made under | ||
Subchapters D, E, and F; | ||
(3) the aggregate total of private sector investment, | ||
federal government funding, and contributions from other sources | ||
obtained in connection with awards made under each of the | ||
subchapters listed in Subdivision (2); | ||
(4) the name of each award recipient and the amount of | ||
the award made to the recipient; and | ||
(5) a brief description of the equity position that | ||
the governor, on behalf of the state, may take in companies | ||
receiving awards and the names of the companies in which the state | ||
has taken an equity position. | ||
(b) The annual report must also contain a brief description | ||
regarding: | ||
(1) the intended outcomes of projects funded under | ||
Subchapter D during each [ |
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[ |
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(2) the actual outcomes of all projects funded under | ||
Subchapter D during each preceding state fiscal year [ |
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from a liquidity event involving a company whose project was funded | ||
under that subchapter. | ||
SECTION 2. This Act takes effect immediately if it receives | ||
a vote of two-thirds of all the members elected to each house, as | ||
provided by Section 39, Article III, Texas Constitution. If this | ||
Act does not receive the vote necessary for immediate effect, this | ||
Act takes effect September 1, 2011. |