Relating to the creation of the Select Committee on Economic Development.
Impact
The committee is tasked with developing objective criteria to evaluate the effectiveness of current economic development policies and incentives. This includes examining aspects such as the local and state tax systems to determine their influence on economic activity. A key focus will be on identifying incentives that promote the growth and retention of capital investments while also considering the businesses and categories of employment most conducive to the state's long-term interests.
Summary
House Bill 2785 establishes the Select Committee on Economic Development with the primary objective of enhancing economic development initiatives throughout the state of Texas. The bill highlights the need for effective measures to attract new investments, boost employment, and retain existing businesses. The committee's formation is intended to ensure that the state's economic development strategies are not only competitive compared to other states but also administratively efficient and well-aligned with sound economic principles.
Contention
A critical point of contention surrounding HB 2785 is the balance between local and state control over economic development initiatives. While the bill promotes a unified strategy at the state level, it raises questions about the potential dilution of local authority to tailor incentives to specific community needs. Critics may argue that one-size-fits-all incentives risk overlooking the unique economic landscapes across various regions of Texas, potentially hindering local efforts to stimulate economic growth based on distinct local characteristics.
Notable_points
The committee will include a diverse group of members, with representation from both the public and legislative sectors, including business owners and local government officials. This breadth is designed to foster a holistic approach to economic development policy-making. Furthermore, the committee is required to deliver a report detailing its findings and recommendations by January 1, 2013, ensuring accountability and a structured timeline for evaluating the state's economic strategies.
Relating to the transfer of functions relating to the economic regulation of water and sewer service from the Public Utility Commission of Texas and the Office of Public Utility Counsel to the Water Public Utility Commission and the Office of Water Public Utility Counsel; creating a criminal offense.
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 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.
Campaign finance: contributions and expenditures; provision related to officeholders raising funds when facing a recall; modify, and require candidate to establish a separate account used for recall purposes. Amends secs. 3, 11, 12, 21, 24 & 52 of 1976 PA 388 (MCL 169.203 et seq.) & adds sec. 21b.
Campaign finance: contributions and expenditures; funds donated to a candidate for recall efforts; require candidate to establish a separate account used for recall purposes. Amends secs. 3, 11, 12, 21, 24 & 52 of 1976 PA 388 (MCL 169.203 et seq.) & adds sec. 21b.
A concurrent resolution recognizing wild rice as sacred and central to the culture and health of Indigenous Peoples in Minnesota and critical to the health and identity of all Minnesota citizens and ecosystems and establishing a commitment to passing legislation to protect wild rice and the freshwater resources upon which it depends.