LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION April 19, 2009 TO: Honorable Chris Harris, Chair, Senate Committee on Economic Development FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:SB783 by Shapiro (Relating to the Texas emerging technology fund.), As Introduced No fiscal implication to the State is anticipated. The bill would implement a recommendation in the Legislative Budget Board Government Effectiveness and Efficiency Report entitled Improve Accountability for the Texas Emerging Technology Fund. The bill would require the governor to submit an annual report which shows the actual performance of the Emerging Technology Fund (ETF) in terms of private investment and federal grants or loans received by award recipients. Information would be provided in the report about the planned and actual outcomes resulting from awards made during the last two fiscal years. The annual report would identify the awards made from the ETF to each recipient, as well as the total award amounts provided under the commercialization, matching, and research superiority programs. The annual report would contain information about the ETFs investment portfolio, specifically: a brief description of the investments in the portfolio, the value of each investment, and the portfolios total value as of the reporting periods ending date. The bill would allow the governor to obtain assistance from an outside entity in negotiating contracts with award recipients; and to oversee and monitor contracts, prepare the aforementioned annual report; and provide ETF investment portfolio advice and evaluation. The outside entity would receive compensation from the ETF. The bill would alter the allocations for commercialization, research matching, and research superiority programs to 60 percent, 10 percent, and 30 percent, respectively, from 50 percent, 16.67 percent, and 33.33 percent of the funds appropriation (less administrative costs). The governor would still be able to adjust allocations with prior approval of the lieutenant governor and speaker of the house of representatives. Finally, the bill contains provisions making certain information related to award recipients confidential, requiring the governor to make award contract summaries available to the public, and specifying additional entities from which research superiority for Texas institutions of higher education may be attracted. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:301 Office of the Governor LBB Staff: JOB, JRO, JI, RN, BTA
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
April 19, 2009
TO: Honorable Chris Harris, Chair, Senate Committee on Economic Development FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:SB783 by Shapiro (Relating to the Texas emerging technology fund.), As Introduced
TO: Honorable Chris Harris, Chair, Senate Committee on Economic Development
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: SB783 by Shapiro (Relating to the Texas emerging technology fund.), As Introduced
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
SB783 by Shapiro (Relating to the Texas emerging technology fund.), As Introduced
SB783 by Shapiro (Relating to the Texas emerging technology fund.), As Introduced
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would implement a recommendation in the Legislative Budget Board Government Effectiveness and Efficiency Report entitled Improve Accountability for the Texas Emerging Technology Fund. The bill would require the governor to submit an annual report which shows the actual performance of the Emerging Technology Fund (ETF) in terms of private investment and federal grants or loans received by award recipients. Information would be provided in the report about the planned and actual outcomes resulting from awards made during the last two fiscal years. The annual report would identify the awards made from the ETF to each recipient, as well as the total award amounts provided under the commercialization, matching, and research superiority programs. The annual report would contain information about the ETFs investment portfolio, specifically: a brief description of the investments in the portfolio, the value of each investment, and the portfolios total value as of the reporting periods ending date. The bill would allow the governor to obtain assistance from an outside entity in negotiating contracts with award recipients; and to oversee and monitor contracts, prepare the aforementioned annual report; and provide ETF investment portfolio advice and evaluation. The outside entity would receive compensation from the ETF. The bill would alter the allocations for commercialization, research matching, and research superiority programs to 60 percent, 10 percent, and 30 percent, respectively, from 50 percent, 16.67 percent, and 33.33 percent of the funds appropriation (less administrative costs). The governor would still be able to adjust allocations with prior approval of the lieutenant governor and speaker of the house of representatives. Finally, the bill contains provisions making certain information related to award recipients confidential, requiring the governor to make award contract summaries available to the public, and specifying additional entities from which research superiority for Texas institutions of higher education may be attracted.
The bill would implement a recommendation in the Legislative Budget Board Government Effectiveness and Efficiency Report entitled Improve Accountability for the Texas Emerging Technology Fund.
The bill would require the governor to submit an annual report which shows the actual performance of the Emerging Technology Fund (ETF) in terms of private investment and federal grants or loans received by award recipients. Information would be provided in the report about the planned and actual outcomes resulting from awards made during the last two fiscal years. The annual report would identify the awards made from the ETF to each recipient, as well as the total award amounts provided under the commercialization, matching, and research superiority programs.
The annual report would contain information about the ETFs investment portfolio, specifically: a brief description of the investments in the portfolio, the value of each investment, and the portfolios total value as of the reporting periods ending date.
The bill would allow the governor to obtain assistance from an outside entity in negotiating contracts with award recipients; and to oversee and monitor contracts, prepare the aforementioned annual report; and provide ETF investment portfolio advice and evaluation. The outside entity would receive compensation from the ETF.
The bill would alter the allocations for commercialization, research matching, and research superiority programs to 60 percent, 10 percent, and 30 percent, respectively, from 50 percent, 16.67 percent, and 33.33 percent of the funds appropriation (less administrative costs). The governor would still be able to adjust allocations with prior approval of the lieutenant governor and speaker of the house of representatives.
Finally, the bill contains provisions making certain information related to award recipients confidential, requiring the governor to make award contract summaries available to the public, and specifying additional entities from which research superiority for Texas institutions of higher education may be attracted.
Local Government Impact
No 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, JI, RN, BTA
JOB, JRO, JI, RN, BTA