LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION May 21, 2009 TO: Honorable Chris Harris, Chair, Senate Committee on Economic Development FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB1277 by Button (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.), As Engrossed No significant fiscal implication to the State is anticipated. The bill would amend the uses of the Texas Enterprise Fund to include incentives to retain businesses located in Texas that are considering relocating outside the state if the Texas unemployment rate is seven percent or more. The bill would require grant recipients to include language in each transfer of control or ownership contract that would require the Governor to be notified of the change and would require compliance with the original grant recipient agreement. The bill would also require grant recipients to provide a health benefit plan to its employees involved with the contract. The bill would only affect contracts entered into after the effective date of this bill. Section 2 of the bill would be effective September 1, 2011 and all the remaining sections would be effective September 1, 2009. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies:301 Office of the Governor LBB Staff: JOB, JRO, BTA
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
May 21, 2009
TO: Honorable Chris Harris, Chair, Senate Committee on Economic Development FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB1277 by Button (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.), As Engrossed
TO: Honorable Chris Harris, Chair, Senate Committee on Economic Development
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: HB1277 by Button (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.), As Engrossed
Honorable Chris Harris, Chair, Senate Committee on Economic Development
Honorable Chris Harris, Chair, Senate Committee on Economic Development
John S. O'Brien, Director, Legislative Budget Board
John S. O'Brien, Director, Legislative Budget Board
HB1277 by Button (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.), As Engrossed
HB1277 by Button (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.), As Engrossed
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend the uses of the Texas Enterprise Fund to include incentives to retain businesses located in Texas that are considering relocating outside the state if the Texas unemployment rate is seven percent or more. The bill would require grant recipients to include language in each transfer of control or ownership contract that would require the Governor to be notified of the change and would require compliance with the original grant recipient agreement. The bill would also require grant recipients to provide a health benefit plan to its employees involved with the contract. The bill would only affect contracts entered into after the effective date of this bill. Section 2 of the bill would be effective September 1, 2011 and all the remaining sections would be effective September 1, 2009.
The bill would amend the uses of the Texas Enterprise Fund to include incentives to retain businesses located in Texas that are considering relocating outside the state if the Texas unemployment rate is seven percent or more. The bill would require grant recipients to include language in each transfer of control or ownership contract that would require the Governor to be notified of the change and would require compliance with the original grant recipient agreement. The bill would also require grant recipients to provide a health benefit plan to its employees involved with the contract. The bill would only affect contracts entered into after the effective date of this bill. Section 2 of the bill would be effective September 1, 2011 and all the remaining sections would be effective September 1, 2009.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 301 Office of the Governor
301 Office of the Governor
LBB Staff: JOB, JRO, BTA
JOB, JRO, BTA