Bill Text: TX SB393 | 2017-2018 | 85th Legislature | Introduced


Bill Title: Relating to abolishing the Texas Enterprise Fund and the disposition of the balance of that fund.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2017-02-01 - Referred to Natural Resources & Economic Development [SB393 Detail]

Download: Texas-2017-SB393-Introduced.html
  85R1713 CLG-D
 
  By: Burton S.B. No. 393
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to abolishing the Texas Enterprise Fund and the
  disposition of the balance of that fund.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  The following laws are repealed:
               (1)  Sections 481.078 and 481.080, Government Code;
               (2)  Sections 1372.031(b), (c), (d), and (e),
  Government Code; and
               (3)  Section 303.005(a), Labor Code.
         SECTION 2.  (a) On September 1, 2017, the Texas Enterprise
  Fund is abolished and the balance of that fund is transferred to the
  general revenue fund and may be used in accordance with legislative
  appropriation, except as provided by Subsections (c) and (d) of
  this section.
         (b)  The abolishment of the Texas Enterprise Fund and the
  repeal of Sections 481.078 and 481.080, Government Code, do not
  affect the validity of an agreement between the governor and a grant
  recipient or an entity to be awarded a grant that is entered into
  under Section 481.078, Government Code, before September 1, 2017.
         (c)  Money that was deposited in the Texas Enterprise Fund as
  a gift, grant, or donation under Section 481.078(b)(3), Government
  Code, and that is encumbered by the specific terms of the gift,
  grant, or donation may be spent only in accordance with the terms of
  the gift, grant, or donation.
         (d)  Money from the Texas Enterprise Fund that is encumbered
  because the money is awarded, by grant, or otherwise obligated by
  agreement before September 1, 2017, but under the terms of the award
  or agreement will not be distributed until a later date shall be
  distributed in accordance with the terms of the award or agreement.
  If the governor determines that the money will not be distributed in
  accordance with the terms of the award or agreement, the governor
  shall certify that fact to the comptroller. On that certification,
  the comptroller shall make that money available in the general
  revenue fund to be used in accordance with legislative
  appropriation.
         (e)  On or after the effective date of this Act, the
  following payments or other amounts shall be sent to the
  comptroller for deposit to the general revenue fund:
               (1)  interest earned on the investment of money in the
  Texas Enterprise Fund;
               (2)  any money returned or repaid by an entity pursuant
  to an agreement entered into under Section 481.078, Government
  Code; and
               (3)  any money derived from an interest the state
  retained in a capital improvement pursuant to an agreement entered
  into under Section 481.078, Government Code.
         SECTION 3.  Subchapter E, Chapter 481, Government Code, is
  amended by adding Section 481.0781 to read as follows:
         Sec. 481.0781.  ANNUAL PROGRESS REPORT FOR GRANT RECIPIENTS
  OF FORMER TEXAS ENTERPRISE FUND. (a)  An entity that entered into a
  grant agreement with the governor under former Section 481.078
  shall submit to the governor, the lieutenant governor, and the
  speaker of the house of representatives an annual progress report
  on the attainment of each of the performance targets specified in
  the agreement based on information compiled during the previous
  calendar year of the report's due date.
         (b)  This section expires September 1, 2032.
         SECTION 4.  The heading to Section 481.079, Government Code,
  is amended to read as follows:
         Sec. 481.079.  REPORT ON USE OF MONEY IN FORMER TEXAS
  ENTERPRISE FUND.
         SECTION 5.  Section 481.079, Government Code, is amended by
  amending Subsections (a), (a-1), and (c) and adding Subsection (d)
  to read as follows:
         (a)  Before the beginning of each regular session of the
  legislature, the governor shall submit to the lieutenant governor,
  the speaker of the house of representatives, and each other member
  of the legislature a report on grants made under former Section
  481.078 that states:
               (1)  the number of direct jobs each recipient committed
  to create in this state;
               (2)  the number of direct jobs each recipient created
  in this state;
               (3)  the median wage of the jobs each recipient created
  in this state;
               (4)  the amount of capital investment each recipient
  committed to expend or allocate per project in this state;
               (5)  the amount of capital investment each recipient
  expended or allocated per project in this state;
               (6)  the total amount of grants made to each recipient;
               (7)  the average amount of money granted in this state
  for each job created in this state by grant recipients;
               (8)  the number of jobs created in this state by grant
  recipients in each sector of the North American Industry
  Classification System (NAICS); and
               (9)  of the number of direct jobs each recipient
  created in this state, the number of positions created that provide
  health benefits for employees.
         (a-1)  For grants awarded for a purpose specified by former
  Section 481.078(d-1), the report must include only the amount and
  purpose of each grant.
         (c)  The governor may require a person who received 
  [recipient of] a grant under former Section 481.078 to submit, on a
  form the governor provides, information required to complete the
  report.
         (d)  This section expires September 1, 2032.
         SECTION 6.  Section 1372.031(a), Government Code, is amended
  to read as follows:
         (a)  Subject [Except as provided by Subsection (b) and
  subject] to Sections 1372.0321, 1372.0231, and 1372.035(c), if, on
  or before October 20, more than one issuer in a category described
  by Section 1372.022(a)(2), (3), (4), or (6) applies for a
  reservation of the state ceiling for the next program year, the
  board shall grant reservations in that category in the order
  determined by the board by lot.
         SECTION 7.  Section 1372.063, Government Code, is amended to
  read as follows:
         Sec. 1372.063.  PRIORITY 1 CARRYFORWARD CLASSIFICATION. The
  priority 1 carryforward classification applies to[:
               [(1)]  an issuer of a state-voted issue[; and
               [(2)     a state agency, other than an issuer of a
  state-voted issue, that applies for a carryforward designation for
  a project that:
                     [(A)  is described by Section 1372.067(a)(2); and
                     [(B)     the Texas Economic Development and Tourism
  Office determines meets the governor's criteria for funding from
  the Texas Enterprise Fund].
         SECTION 8.  Section 2306.2585(c), Government Code, is
  amended to read as follows:
         (c)  The department may use any available revenue, including
  legislative appropriations, appropriation transfers from the
  trusteed programs within the office of the governor, including
  [authorized appropriations from the Texas Enterprise Fund,]
  available federal funds[,] and any [other] statutorily authorized
  and appropriate funding sources transferred from the trusteed
  programs within the office of the governor, for the purposes of this
  section.  The department shall solicit and accept gifts and grants
  for the purposes of this section.  The department shall use gifts
  and grants received for the purposes of this section before using
  any other revenue.
         SECTION 9.  Section 203.021(e), Labor Code, is amended to
  read as follows:
         (e)  Money in the compensation fund may not be transferred to
  the[:
               [(1)     Texas Enterprise Fund created under Section
  481.078, Government Code; or
               [(2)]  Texas emerging technology fund established
  under Section 490.101, Government Code.
         SECTION 10.  The heading to Section 303.005, Labor Code, is
  amended to read as follows:
         Sec. 303.005.  [PARTICIPATION IN ADDITIONAL PROGRAMS;
  APPLICATION REQUIREMENTS;] PRIORITY IN AWARDING GRANTS.
         SECTION 11.  Section 314.002(d), Labor Code, is amended to
  read as follows:
         (d)  The commission, for the purposes of this section, may
  use:
               (1)  money appropriated to the commission; and
               (2)  money that is transferred to the commission from
  trusteed programs within the office of the governor, including:
                     (A)  [appropriated money from the Texas
  Enterprise Fund;
                     [(B)]  available federal funds; and
                     (B) [(C)]  money from [other] appropriate,
  statutorily authorized funding sources.
         SECTION 12.  If a conflict exists between this Act and
  another Act of the 85th Legislature, Regular Session, 2017, that
  relates to the Texas Enterprise Fund, this Act controls without
  regard to the relative dates of enactment.
         SECTION 13.  This Act takes effect September 1, 2017.
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