By: J. Davis of Harris, Button H.B. No. 468
A BILL TO BE ENTITLED
AN ACT
relating to reporting requirements and other information in
connection with an award under the Texas emerging technology fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 490.005(b), Government Code, is amended
to read as follows:
(b) The annual report must also contain:
(1) the aggregate total number of jobs, broken down
according to the industry sectors described by Section 490.003(b),
actually created by all projects [each project] receiving funding
under this chapter;
(2) an analysis of the number of jobs, broken down
according to the industry sectors described by Section 490.003(b),
actually created by all projects [each project] receiving funding
under this chapter; [and]
(3) a brief description regarding:
(A) the methodology used to determine the
information provided under Subdivisions (1) and (2), which may be
developed in consultation with the comptroller's office;
(B) the intended outcomes of projects funded
under Subchapter D during each preceding state fiscal year; and
(C) the actual outcomes of all projects funded
under Subchapter D during each preceding state fiscal year,
including any financial impact on the state resulting from a
liquidity event involving a company whose project was funded under
that subchapter; and
(4) the total number of jobs created by each project
receiving funds under this chapter, expressed:
(A) in increments of 10 jobs created by the
project; or
(B) as a number that is within five percent over
or under the total number of jobs created by the project.
SECTION 2. Section 490.056, Government Code, is amended by
amending Subsection (c) and adding Subsection (c-1) to read as
follows:
(c) Each entity recommended by the committee for an award of
money under Subchapter D [from the fund as provided by this chapter]
shall obtain and provide the following information to the office of
the governor:
(1) a federal criminal history background check for
each principal of the entity;
(2) a state criminal history background check for each
principal of the entity;
(3) a credit check for each principal of the entity;
(4) a copy of a government-issued form of photo
identification for each principal of the entity; and
(5) information regarding whether the entity or a
principal of the entity has ever been subject to a sanction imposed
by the Securities and Exchange Commission for a violation of
applicable federal law.
(c-1) A criminal history background check provided for a
principal of an entity under Subsection (c) remains in effect for
three years, regardless of the number of applications for funding
under this chapter submitted by the entity during that period.
SECTION 3. Section 490.057(a), Government Code, is amended
to read as follows:
(a) Except as provided by Subsection (b), information
collected by the governor's office, the committee, or the
committee's advisory panels concerning the identity, background,
finance, marketing plans, trade secrets, or other commercially or
academically sensitive information of an individual or entity
applying for or being considered for [, receiving, or having
received] an award from the fund is confidential unless the
individual or entity consents to disclosure of the information.
Information described by this subsection provided by an individual
or entity that has received an award is public information unless
the information is confidential under other law.
SECTION 4. This Act takes effect September 1, 2013.