Texas House Bill HB2785

Texas 2011 - 82nd Regular

• Introduced: 3/9/11
• Out of House Committee: 3/31/11
• Voted on by House: 4/8/11
• Refer: 3/16/11
• Out of Senate Committee: 5/5/11
• Report Pass: 3/29/11
• Voted on by Senate: 5/9/11
• Engrossed: 4/8/11
• Governor Action: 5/21/11
• Refer: 4/26/11
• Report Pass: 5/5/11
• Enrolled: 5/10/11
• Passed: 5/21/11

Caption

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.