Texas House Bill HB3329

Texas 2009 - 81st Regular

Caption

Relating to funds promoting economic development.

Impact

The modifications proposed in HB3329 will significantly impact how the Texas Enterprise Fund is managed. The bill establishes a board responsible for overseeing fund allocations, ensuring that grant agreements contain performance targets. Furthermore, it introduces a requirement that entities receiving grants must provide healthcare benefits to their employees, promoting better workforce welfare. Such regulations intend not only to stimulate economic growth but also to ensure that the benefits of such growth are equitably distributed among workers.

Summary

House Bill 3329 is designed to promote economic development in Texas by amending sections of the Government Code related to the Texas Enterprise Fund. The bill seeks to enhance the administration of the Fund, which is a critical resource allocated for business incentives, job training programs, and infrastructure improvements. By reforming the governance structure and making grants more accessible, the bill aims to stimulate economic activity and attract investments into the state.

Contention

There are notable points of contention surrounding the bill, particularly concerning the healthcare stipulation for grant recipients. While proponents argue that this is necessary to ensure a healthy workforce, critics may view it as an additional burden on businesses, potentially deterring smaller entities from applying for funding. Moreover, the centralization of power within the board to approve funding could face scrutiny regarding transparency and fairness in how funds are distributed across different regions of Texas.