Texas House Bill HB1274

Texas 2009 - 81st Regular

• Out of House Committee: 5/4/09

Caption

Relating to the availability and reporting of certain information regarding applications under the Texas Economic Development Act to the public and the state.

Impact

The implementation of HB 1274 is expected to significantly affect state laws governing tax credits and economic development initiatives. By formalizing the requirement for public accessibility of application information, the bill imposes obligations on local authorities that may result in better public oversight. This could lead to increased citizen engagement in local economic discussions. Furthermore, by making specific details available, it’s anticipated that this will hold both applicants and school districts accountable for job creation and community investments tied to granted tax credits.

Summary

House Bill 1274 relates to enhancing the availability and reporting of certain information concerning applications made under the Texas Economic Development Act. This bill mandates that school districts maintain a generally accessible online presence for posting application details related to tax credits and economic evaluations. Specifically, it requires these districts to publish applications received as well as related information, increasing transparency in the economic development process and the resulting community investments. Applications must be posted within 15 days, thereby streamlining both access and accountability to stakeholders and the public.

Contention

Despite its transparency goals, the bill may face challenges from stakeholders concerned about the privacy of businesses involved. Some discussions suggest opposition from business groups wary of exposing proprietary information that may be entwined with their applications for tax credits. The balance between necessary public transparency and protecting sensitive business information remains a key point of contention. Overall, while proponents argue that increased transparency will enhance trust in the economic development process, detractors caution against potential negative implications for business confidentiality and competitiveness.