Expressing the intent of the Texas Legislature that the state accept federal economic stimulus funds appropriated under the American Recovery and Reinvestment Act of 2009 or any similar legislation.
Impact
The resolution highlights the federal stimulus package's potential to inject approximately $27 billion into the Texas economy. This funding is aimed at mitigating state budget cuts and preserving essential services that support job creation and economic stability during a time of increasing unemployment. Such acceptance of federal funds would allow the state to effectively leverage external financial resources to address immediate economic challenges and lay the groundwork for recovery and growth.
Summary
HCR29 is a concurrent resolution introduced in the Texas Legislature expressing the intent for the state to accept federal economic stimulus funds as outlined in the American Recovery and Reinvestment Act of 2009. The resolution emphasizes the significant financial challenges facing Texas due to the national economic crisis, projecting a revenue shortfall of $9.1 billion for the 2010-2011 budget cycle, which could lead to detrimental funding cuts for essential services like education and transportation.
Contention
A notable point of contention surrounding HCR29 could be the political implications of accepting federal funds, especially with concerns about the state's reliance on federal assistance. While proponents argue that this step is crucial for combating the recession's impacts, critics may raise issues regarding the long-term economic strategies and the potential weakening of state autonomy in the face of federal influence. Overall, the resolution underscores the urgency for state action to capitalize on available resources to support Texas households and businesses.
Relating to the establishment of the Texas Mircale Act (TMA), allowing for certain fees, authorizing certain ad valorem tax incentives for economic development, specifically certain tax relief from school district taxes for certain corporations and limited liability companies that make large investments that create jobs in this state, to authorizing the imposition of certain fees, and the repeal of Chapter 313 of Texas Tax Code and the Economic Development Act of the 77th Legislature.
Relating to small business recovery funds and insurance tax credits for certain investments in those funds; imposing a monetary penalty; authorizing fees.
Relating to reports by the Legislative Budget Board regarding the General Appropriations Act and other fiscal actions taken by the legislature and each general appropriations bill proposed by the legislature.
Relating to reports by the Legislative Budget Board regarding the General Appropriations Act and other fiscal actions taken by the legislature and each general appropriations bill proposed by the legislature.
Proposing a constitutional amendment to foster economic development and job growth, provide tax relief and funding for education and public safety programs, support the horse racing industry, and reform horse racing and greyhound racing by authorizing casino gaming at destination resorts, authorizing sports wagering, authorizing Tribal-State compacts with federally recognized Indian tribes, and creating the Texas Gaming Commission to regulate casino gaming and sports wagering; requiring a license to conduct casino gaming; and requiring the imposition of a casino gaming tax, sports wagering tax, and license application fees.
Expressing support for the Texas attorney general to bring an action against a federal agency to assert any claim the attorney general determines is justiciable to prevent the agency from violating federal law.