Relating to the funding of certain activities related to the commercialization of emerging technologies.
Impact
The impact of HB1389 primarily revolves around the revisions made to how financial data and performance metrics related to technology projects are reported. With the passage of this bill, the governor is mandated to provide a detailed report on awards made under the revised framework annually. This shift is expected to enhance transparency and accountability regarding the disbursement of state funding to tech initiatives and the actual outcomes resulting from these investments.
Summary
House Bill 1389 focuses on the funding aspects related to the commercialization of emerging technologies in Texas. This Act aims to restructure and update the existing regulations surrounding how funds are allocated for activities that promote technological innovation. By repealing Subchapter D of Chapter 490 of the Government Code, the bill underscores a shift towards more streamlined funding mechanisms for emerging tech initiatives, potentially leading to greater efficiency in the approval and distribution of funds.
Contention
One point of contention relating to HB1389 may arise from the repeal of comprehensive support mechanisms previously afforded to emerging technology sectors, as outlined in Subchapter D. Critics might argue that this change could limit the state's scope to foster innovation and technology commercialization in various niches. The concerns would likely center on whether the new funding structure can adequately cover the diverse needs of Texas's burgeoning tech landscape and whether it reduces overall state investment in critical technology development initiatives.
Relating to the establishment of the Texas Energy Insurance Program and other funding mechanisms to support the construction and operation of electric generating facilities.
Relating to the disclosure of certain gifts, grants, contracts, and financial interests received from a foreign source by certain state agencies, public institutions of higher education, and state contractors, and to the approval and monitoring of employment-related foreign travel and activities by certain public institution of higher education employees; providing civil and administrative penalties.
Relating to methods for the recovery of system restoration costs incurred by electric utilities following hurricanes, tropical storms, ice or snow storms, floods, and other weather-related events and natural disasters.
Relating to methods for the recovery of system restoration costs incurred by electric utilities following hurricanes, tropical storms, ice or snow storms, floods, and other weather-related events and natural disasters.
Relating to the response and resilience of certain electricity service providers to major weather-related events or other natural disasters; granting authority to issue bonds.