Relating to the Texas Enterprise Fund, including the use of money from the fund, the terms of a grant agreement, and the duties of a grant recipient or entity that acquires a grant recipient.
Impact
A notable aspect of HB 1277 is its directive concerning the deployment of state resources in times of economic distress. The bill amends Section 481.078 of the Government Code, allowing the Texas Enterprise Fund to offer incentives for business retention when the unemployment rate is at or above seven percent. This legislative change emphasizes the state's proactive approach to economic management, particularly in unfavorable economic conditions where job retention becomes critical.
Summary
House Bill 1277 pertains to the Texas Enterprise Fund and modifies the utilization of funds intended for economic development and business incentives. The bill specifically allows money appropriated from the Texas Enterprise Fund to be used as incentives to retain businesses located within the state, particularly during periods of high unemployment. By facilitating this use of funds, the bill aims to bolster economic stability and support local businesses facing challenges.
Contention
Discussions around HB 1277 may center on its implications for fiscal responsibility and the effectiveness of government incentives in stimulating economic activity. While proponents argue that the bill will provide necessary assistance to struggling businesses, critics may question the sustainability of utilizing state funds for such purposes. Additionally, concerns may be raised regarding the criteria under which businesses qualify for these incentives and the potential for misuse of the funds intended for economic support.
Relating to the establishment of the Texas Mental Health Care Enterprise Fund and the granting of license reciprocity to certain mental health professionals.
Relating to the establishment of the Texas Mental Health Care Enterprise Fund and the granting of license reciprocity to certain mental health professionals.
Relating to measures for ensuring safety and security in public schools, including the establishment of a school safety grant program and a school safety plan implementation grant program, and the allocation of certain constitutional transfers of money to the state school safety fund, the economic stabilization fund, and the state highway fund.
Relating to the creation of the Texas state buildings preservation endowment fund, including the transfer to the fund of the unencumbered balances of certain other funds.
Relating to the creation of the Texas state buildings preservation endowment fund, including the transfer to the fund of the unencumbered balances of certain other funds.