Certifying the state's intention to request and use all funds that may be available to the state under the American Recovery and Reinvestment Act of 2009.
Impact
The passage of HCR93 is anticipated to have a significant positive impact on state laws, particularly concerning unemployment compensation. Acceptance of the federal funds would lead to an estimated net gain of approximately $474 million for the Unemployment Compensation Trust Fund, allowing for a lower unemployment tax rate for employers. This action is seen as essential to prevent worsening financial strains on Texas businesses and families amid a substantial economic slowdown. Notably, the inability to access these funds could result in a much higher tax burden on employers, which could hinder job recovery and economic stabilization efforts.
Summary
HCR93, a concurrent resolution by Representative Turner, certifies the State of Texas' intention to seek and utilize all funds available under the American Recovery and Reinvestment Act of 2009. This act was aimed at revitalizing the American economy during a significant economic downturn and is expected to create or save millions of jobs while providing critical funds for infrastructure projects, education, and healthcare accessibility. The resolution emphasizes the urgency of obtaining these funds to mitigate the recession's impacts on Texas, where job losses and economic challenges have become increasingly severe.
Contention
Notably, HCR93 arises against the backdrop of contention regarding the actions of Governor Rick Perry, who indicated he would not certify $556 million the state could receive from the federal government. The resolution thereby positions the Texas Legislature against the governor's inaction, illustrating a divide in strategic responses to the recession. While proponents assert that utilizing these funds is a necessary step for economic recovery and government accountability, opponents might argue against reliance on federal funds, advocating instead for state-level solutions. Thus, the resolution serves not only a fiscal purpose but is also indicative of deeper political and ideological divides within Texas governance.
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 agreements authorizing a limitation on taxable value of certain property to provide for the creation of jobs and the generation of state and local tax revenue; authorizing fees; authorizing penalties.
Relating to the promotion of film and television production in this state, including the eligibility of film or television productions for funding under the major events reimbursement program, the creation of a film events trust fund and a film production tax rebate trust fund, the establishment of virtual film production institutes, and the designation of media production development zones.
Relating to the ownership of the pore space underlying the surface of land and to the use of that space for the geologic storage of carbon dioxide; authorizing a fee.
Relating to the creation of the Dallas Municipal Management District; providing authority to issue bonds; providing authority to impose assessments and fees.