Texas 2015 - 84th Regular

Texas House Bill HB346 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	84R3256 CLG-D
2	2	By: Collier H.B. No. 346
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to use of the money from the Texas Enterprise Fund and the
8	8	Texas emerging technology fund to benefit certain historically
9	9	underutilized businesses.
10	10	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
11	11	SECTION 1. Section 481.078, Government Code, is amended by
12	12	adding Subsections (n) and (o) to read as follows:
13	13	(n) To encourage the development and location of
14	14	historically underutilized businesses in this state, the governor
15	15	shall consider making grants from the fund:
16	16	(1) to recipients that are historically underutilized
17	17	businesses in this state that commit to using the grants to create
18	18	additional jobs; or
19	19	(2) to recipients that are historically underutilized
20	20	businesses from outside the state that commit to relocate to this
21	21	state.
22	22	(o) For purposes of this section:
23	23	(1) "Historically underutilized business" means:
24	24	(A) a corporation formed for the purpose of
25	25	making a profit in which 51 percent or more of all classes of the
26	26	shares of stock or other equitable securities are owned by one or
27	27	more economically disadvantaged persons who have a proportionate
28	28	interest and actively participate in the corporation's control,
29	29	operation, and management;
30	30	(B) a sole proprietorship created for the purpose
31	31	of making a profit that is completely owned, operated, and
32	32	controlled by an economically disadvantaged person;
33	33	(C) a partnership formed for the purpose of
34	34	making a profit in which 51 percent or more of the assets and
35	35	interest in the partnership are owned by one or more economically
36	36	disadvantaged persons who have a proportionate interest and
37	37	actively participate in the partnership's control, operation, and
38	38	management; or
39	39	(D) a joint venture in which each entity in the
40	40	venture is a historically underutilized business, as determined
41	41	under another paragraph of this subdivision.
42	42	(2) "Economically disadvantaged person" has the
43	43	meaning assigned by Section 2161.001.
44	44	SECTION 2. Section 481.079(a), Government Code, is amended
45	45	to read as follows:
46	46	(a) Before the beginning of each regular session of the
47	47	legislature, the governor shall submit to the lieutenant governor,
48	48	the speaker of the house of representatives, and each other member
49	49	of the legislature a report on grants made under Section 481.078
50	50	that states:
51	51	(1) the number of direct jobs each recipient committed
52	52	to create in this state;
53	53	(2) the number of direct jobs each recipient created
54	54	in this state;
55	55	(3) the median wage of the jobs each recipient created
56	56	in this state;
57	57	(4) the amount of capital investment each recipient
58	58	committed to expend or allocate per project in this state;
59	59	(5) the amount of capital investment each recipient
60	60	expended or allocated per project in this state;
61	61	(6) the total amount of grants made to each recipient;
62	62	(7) the average amount of money granted in this state
63	63	for each job created in this state by grant recipients;
64	64	(8) the number of jobs created in this state by grant
65	65	recipients in each sector of the North American Industry
66	66	Classification System (NAICS); [and]
67	67	(9) of the number of direct jobs each recipient
68	68	created in this state, the number of positions created that provide
69	69	health benefits for employees; and
70	70	(10) the total number of grant recipients that are
71	71	historically underutilized businesses and the total amount of
72	72	grants made to those recipients.
73	73	SECTION 3. Section 490.101, Government Code, is amended by
74	74	adding Subsections (j) and (k) to read as follows:
75	75	(j) To encourage the development and location of
76	76	historically underutilized businesses in this state, the governor
77	77	shall consider making awards from the fund:
78	78	(1) to recipients that are historically underutilized
79	79	businesses in this state that commit to using the awards to create
80	80	additional jobs; or
81	81	(2) to recipients that are historically underutilized
82	82	businesses from outside the state that commit to relocate to this
83	83	state.
84	84	(k) For purposes of this section:
85	85	(1) "Historically underutilized business" means:
86	86	(A) a corporation formed for the purpose of
87	87	making a profit in which 51 percent or more of all classes of the
88	88	shares of stock or other equitable securities are owned by one or
89	89	more economically disadvantaged persons who have a proportionate
90	90	interest and actively participate in the corporation's control,
91	91	operation, and management;
92	92	(B) a sole proprietorship created for the purpose
93	93	of making a profit that is completely owned, operated, and
94	94	controlled by an economically disadvantaged person;
95	95	(C) a partnership formed for the purpose of
96	96	making a profit in which 51 percent or more of the assets and
97	97	interest in the partnership are owned by one or more economically
98	98	disadvantaged persons who have a proportionate interest and
99	99	actively participate in the partnership's control, operation, and
100	100	management; or
101	101	(D) a joint venture in which each entity in the
102	102	venture is a historically underutilized business, as determined
103	103	under another paragraph of this subdivision.
104	104	(2) "Economically disadvantaged person" has the
105	105	meaning assigned by Section 2161.001.
106	106	SECTION 4. Section 490.005(b), Government Code, is amended
107	107	to read as follows:
108	108	(b) The annual report must also contain:
109	109	(1) the total number of jobs actually created by each
110	110	project receiving funding under this chapter;
111	111	(2) an analysis of the number of jobs actually created
112	112	by each project receiving funding under this chapter; [and]
113	113	(3) a brief description regarding:
114	114	(A) the methodology used to determine the
115	115	information provided under Subdivisions (1) and (2), which may be
116	116	developed in consultation with the comptroller's office;
117	117	(B) the intended outcomes of projects funded
118	118	under Subchapter D during each preceding state fiscal year; and
119	119	(C) the actual outcomes of all projects funded
120	120	under Subchapter D during each preceding state fiscal year,
121	121	including any financial impact on the state resulting from a
122	122	liquidity event involving a company whose project was funded under
123	123	that subchapter; and
124	124	(4) the total number of recipients of awards from the
125	125	fund that are historically underutilized businesses and the total
126	126	amount of awards made to those recipients.
127	127	SECTION 5. This Act takes effect immediately if it receives
128	128	a vote of two-thirds of all the members elected to each house, as
129	129	provided by Section 39, Article III, Texas Constitution. If this
130	130	Act does not receive the vote necessary for immediate effect, this
131	131	Act takes effect September 1, 2015.