81R3495 CLG-D
By: Chavez H.B. No. 2531
A BILL TO BE ENTITLED
AN ACT
relating to a reporting requirement regarding the Texas emerging
technology fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter A, Chapter 490, Government Code, is
amended by adding Section 490.005 to read as follows:
Sec. 490.005. ANNUAL REPORT. (a) Not later than January 1
of each year, the governor shall submit to the legislature and post
on the office of the governor's Internet website a report that
includes the following information regarding the fund for the
preceding three state fiscal years:
(1) the total number and amount of awards made;
(2) the number and amount of awards made under
Subchapters D, E, and F;
(3) the total amount of private sector investment,
federal government funding, and contributions from other sources
obtained in connection with awards made under each of the
subchapters listed in Subdivision (2);
(4) the name of each award recipient, the amount of the
award made to the recipient, and the amount of any funds received by
the recipient from the private sector, federal government, or any
other source in addition to this state; and
(5) a brief description of the equity position that
the governor may take in companies receiving awards and the names of
the companies in which the governor has taken an equity position.
(b) The annual report must also contain a brief description
regarding the intended and actual outcomes of projects funded under
Subchapter D during the preceding two state fiscal years.
(c) The report may not include information that is made
confidential by law.
SECTION 2. Not later than January 1, 2011, the governor
shall submit the initial report required by Section 490.005,
Government Code, as added by this Act.
SECTION 3. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2009.