Texas Senate Bill SB1638

Texas 2013 - 83rd Regular

Caption

Relating to information included in the report of the Texas Economic Development Bank regarding the enterprise zone program.

Impact

The implementation of SB1638 could substantially improve the policy framework governing state incentives offered in enterprise zones by ensuring that decision-makers have access to detailed evaluations. By providing a clearer picture of how incentives are being used and their effect on revenue, the bill supports accountability and can inform future legislative adjustments. This level of scrutiny might also encourage better participation and collaboration between state and local governments in fostering economic development initiatives. As a result, the bill stands to streamline efforts aimed at economic growth, particularly in designated enterprise zones across Texas.

Summary

SB1638 aims to enhance transparency and accountability within the Texas Economic Development Bank by requiring comprehensive information to be included in the reports regarding the enterprise zone program. The bill proposes amendments to Section 2303.052 of the Government Code, mandating that the bank’s report includes evaluations of the program's effectiveness, descriptions of both state and local incentives utilized, an analysis of individual enterprise project performance, and suggestions for legislative improvements to the program. This increased level of reporting is designed to ensure that stakeholders can assess the impact and efficiency of economic development initiatives within enterprise zones.

Contention

While the bill appears to have broad support for its objectives of transparency and evaluation, there may be differing opinions on the execution and additional data requirements it imposes on the Texas Economic Development Bank. Stakeholders might express concerns regarding potential administrative burdens or financial impacts tied to the enhanced reporting processes. Critics may argue that the increased scrutiny and data-collection efforts could complicate existing processes or disrupt the flexibility needed for efficient economic development practices.