Texas House Bill HB3360

Texas 2017 - 85th Regular

Caption

Relating to the Economic Incentive Oversight Board.

Impact

The amendments in HB3360 would impact existing laws related to the management of economic incentive programs, particularly those under Chapter 313 of the Tax Code. By instituting regular reviews and developing a performance matrix, the bill seeks to provide better accountability and transparency in how economic incentives are administered at the state level. The adjustments made are designed to ensure the total effectiveness of the incentives and their alignment with state economic goals.

Summary

House Bill 3360 focuses on the Economic Incentive Oversight Board in Texas, aiming to enhance the oversight of economic incentives provided under the Texas Economic Development Act. The bill establishes a framework for the board, which will include members with expertise in economics and statistics, to review and analyze the effectiveness and financial impact of existing incentive programs. This review is essential to ensure these programs meet their intended goals and operate effectively, as outlined by previous legislative mandates.

Sentiment

The sentiment around HB3360 appears to be largely positive among proponents who believe that increased oversight will lead to more responsible use of taxpayer dollars and ultimately foster better economic growth. Supporters highlight the importance of ensuring that economic incentives actually deliver benefits to the state economy, while detractors fear that rigorous oversight might complicate or hinder the approval processes for necessary programs.

Contention

Notable points of contention include concerns about the potential for bureaucratic inefficiency introduced by more stringent oversight provisions. Some legislators argue that while oversight is necessary, it must be balanced with the need to incentivize economic growth without creating excessive barriers. Additionally, the requirement for board members to have specific qualifications, such as advanced degrees in economics and statistics, raises questions about the accessibility of board positions and the representation of varying community interests.