Relating to transferring a certain percentage of the Texas Enterprise Fund to the capital access fund.
Impact
The amendments proposed by HB 3560 primarily alter Sections of the Government Code, specifically affecting state financial operations. By mandating transfers from the Texas Enterprise Fund, the bill reallocates resources to enhance access to capital for small businesses. This change is expected to stimulate economic growth and development in areas that are often underserved by traditional financial institutions, ensuring these businesses can thrive in competitive markets. This broader access is crucial for fostering local economic development and employment within enterprise zones.
Summary
House Bill 3560 aims to facilitate financial assistance to small businesses by transferring a specified percentage of the Texas Enterprise Fund to the capital access fund. The bill introduces a structured methodology for determining the transfer amounts, setting the baseline at ten percent of the unencumbered balance of the Texas Enterprise Fund. The intent is to bolster the capital access fund, which supports financial institutions, particularly those in designated enterprise zones, by providing a mechanism for funding that encourages lending and investment in these regions.
Contention
While supporters argue that HB 3560 is a positive step towards enhancing financial support for small businesses, there may be discussions around the implications of transferring funds from the Texas Enterprise Fund. There could be concerns about the availability of funds for other state initiatives that the Enterprise Fund might have supported. The balancing act between fostering local entrepreneurship through improved access to capital and ensuring adequate funding for broader state projects could be a point of contention among legislators.
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.
Relating to the authority of the TexAmericas Center to provide services to and make investments in certain business enterprises and to create certain business organizations for purposes of the center.
Relating to the authority of the TexAmericas Center to provide services to and make investments in certain business enterprises and to create certain business organizations for purposes of the center.
Relating to the establishment of the Texas Energy Insurance Program and other funding mechanisms to support the construction and operation of electric generating facilities.
Relating to the funding of projects by the Public Utility Commission of Texas to promote the reliability and resiliency of the power grid in this state; authorizing the issuance of revenue bonds.
Relating to small business recovery funds and insurance tax credits for certain investments in those funds; imposing a monetary penalty; authorizing fees.
Relating to methods for the recovery of system restoration costs incurred by electric utilities following hurricanes, tropical storms, ice or snow storms, floods, and other weather-related events and natural disasters.
Relating to methods for the recovery of system restoration costs incurred by electric utilities following hurricanes, tropical storms, ice or snow storms, floods, and other weather-related events and natural disasters.
Relating to the response and resilience of certain electricity service providers to major weather-related events or other natural disasters; granting authority to issue bonds.