Texas House Bill HCR147

Texas 2017 - 85th Regular

Caption

Requesting the lieutenant governor and speaker to create a joint interim committee to study the feasibility of a state-based New Markets Tax Credit program.

Impact

By requesting a study into the potential of a New Markets Tax Credit program at the state level, HCR147 could lead to significant changes in the way Texas addresses economic disparities. If enacted, the findings of the committee could provide insights into how structured incentives might encourage investment and stimulate growth in EDCs. The resolution prompts an evaluation of both short-term and long-term impacts of economic shortcomings in these communities, which could inform future legislative actions aimed at alleviating poverty and improving economic conditions.

Summary

HCR147 is a concurrent resolution from the Texas Legislature that seeks to address economic disparities in economically distressed communities (EDCs) across the state. Recognizing the factors that contribute to inadequate investment in these regions, the resolution calls for the creation of a joint interim committee tasked with studying the feasibility of establishing a state-based New Markets Tax Credit program. This program aims to boost capital investment in regions that are struggling economically and have been adversely affected by insufficient development efforts. The bill highlights the challenges faced by EDCs, including rising poverty rates and declining median household incomes and employment opportunities.

Contention

Though the resolution is a step towards exploring solutions for EDCs, it may encounter contention based on differing perspectives on state investment priorities. Supporters are likely to advocate for the necessity of such programs in promoting equity and addressing long-standing economic challenges, while opponents could argue concerns regarding the effectiveness of tax incentives in actually creating sustainable economic change. The discussions could center around the balance between urban and rural investment and the most effective mechanisms for generating private equity and development in these underserved regions.