Bill Text: TX SB1816 | 2017-2018 | 85th Legislature | Introduced
Bill Title: Relating to abolishing the spaceport trust fund and the disposition of the balance of that fund.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2017-03-23 - Referred to Natural Resources & Economic Development [SB1816 Detail]
Download: Texas-2017-SB1816-Introduced.html
85R1976 CLG-D | ||
By: Burton | S.B. No. 1816 |
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relating to abolishing the spaceport trust fund and the disposition | ||
of the balance of that fund. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Sections 481.0066(d) and (e-1), Government Code, | ||
are amended to read as follows: | ||
(d) The aerospace and aviation office shall: | ||
(1) analyze space-related and aviation-related | ||
research currently conducted in this state and may conduct | ||
activities designed to further that research; | ||
(2) analyze the state's economic position in the | ||
aerospace and aviation industries; | ||
(3) develop short-term and long-term business | ||
strategies as part of an industry-specific strategic plan to | ||
promote the retention, development, and expansion of aerospace and | ||
aviation industry facilities in the state that is consistent with | ||
and complementary of the office strategic plan; | ||
(4) make specific recommendations to the legislature | ||
and the governor regarding the promotion of those industries; | ||
(5) as part of and to further the purposes of the | ||
industry-specific strategic plan described by Subdivision (3), | ||
develop short-term and long-term policy initiatives or recommend | ||
reforms the state may undertake or implement to: | ||
(A) increase investment in aerospace and | ||
aviation activities; | ||
(B) support the retention, development, and | ||
expansion of spaceports in this state; | ||
(C) identify and encourage educational, | ||
economic, and defense-related opportunities for aerospace and | ||
aviation activities; | ||
(D) [ |
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support ongoing projects that have been assisted by the former | ||
spaceport trust fund [ |
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(E) partner with the Texas Higher Education | ||
Coordinating Board to foster technological advancement and | ||
economic development for spaceport activities by strengthening | ||
higher education programs and supporting aerospace activities; and | ||
(F) partner with the Texas Workforce Commission | ||
to support initiatives that address the high technology skills and | ||
staff resources needed to better promote the state's efforts in | ||
becoming the leading space exploration state in the nation; | ||
(6) act as a liaison with other state and federal | ||
entities with related economic, educational, and defense | ||
responsibilities to support the marketing of the state's aerospace | ||
and aviation capabilities; | ||
(7) provide technical support and expertise to the | ||
state and to local spaceport authorities regarding aerospace and | ||
aviation business matters; and | ||
(8) be responsible for the promotion and development | ||
of spaceports in this state. | ||
(e-1) The aerospace and aviation advisory committee shall: | ||
(1) advise the governor on the recruitment and | ||
retention of aerospace and aviation jobs and investment; | ||
(2) assist the office and the aerospace and aviation | ||
office in meeting the state's economic development efforts to | ||
recruit and retain aerospace and aviation jobs and investment; | ||
(3) [ |
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office, and the governor on recruitment, retention, and expansion | ||
of aerospace and aviation industry activities; and | ||
(4) [ |
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federal, state, local, and private community economic development | ||
programs that assist or provide loans, grants, or other funding to | ||
aerospace and aviation industry activities. | ||
SECTION 2. Section 481.0069, Government Code, is repealed. | ||
SECTION 3. (a) In this section: | ||
(1) "Office" means the Texas Economic Development and | ||
Tourism Office. | ||
(2) "Spaceport development corporation" has the | ||
meaning assigned by Section 507.001, Local Government Code. | ||
(b) On September 1, 2017, the spaceport trust fund is | ||
abolished and the balance of the fund is transferred to the general | ||
revenue fund for use in accordance with legislative appropriation, | ||
except as provided by Subsections (d) and (e) of this section. | ||
(c) The abolishment of the spaceport trust fund and the | ||
repeal of Section 481.0069, Government Code, do not affect the | ||
validity of a contract between the office and a spaceport | ||
development corporation that is entered into under Section | ||
481.0069(e), Government Code, before September 1, 2017. | ||
(d) Money that was deposited in the spaceport trust fund as | ||
a gift, grant, or donation under Section 481.0069(c)(1), Government | ||
Code, shall be held in trust by the comptroller outside the state | ||
treasury and shall be administered by the comptroller as trustee as | ||
provided by this subsection. The comptroller may: | ||
(1) spend money encumbered by the specific terms of | ||
the gift, grant, or donation only in accordance with those terms; | ||
(2) return to the donor or grantor, on request, any | ||
portion of the amount of a gift, grant, or donation described by | ||
this subsection that remains on deposit; or | ||
(3) transfer to the general revenue fund for use in | ||
accordance with legislative appropriation any other remaining | ||
money deposited as a gift, grant, or donation under Section | ||
481.0069(c)(1), Government Code. | ||
(e) Money from the spaceport trust fund that is encumbered | ||
because the money is obligated by contract before September 1, | ||
2017, but under the terms of the contract will not be distributed | ||
until a later date shall be held in trust by the comptroller as | ||
trustee outside the state treasury and shall be administered by the | ||
comptroller as trustee to ensure that the money is distributed in | ||
accordance with the terms of the contract. If the office determines | ||
that the money will not be distributed in accordance with the terms | ||
of contract, the office shall certify that fact to the comptroller. | ||
On that certification, the comptroller shall transfer that money to | ||
the general revenue fund to be used in accordance with legislative | ||
appropriation. | ||
(f) On or after the effective date of this Act, the | ||
following payments or other amounts shall be remitted to the | ||
comptroller for deposit to the general revenue fund: | ||
(1) any interest or income earned on the investment of | ||
money in the spaceport trust fund; | ||
(2) any money returned by a spaceport development | ||
corporation pursuant to a contract entered into under Section | ||
481.0069, Government Code; and | ||
(3) any money received by a donor or grantor under | ||
Subsection (d)(2) of this section that is subsequently returned to | ||
the state. | ||
SECTION 4. This Act takes effect September 1, 2017. |