Texas Senate Bill SB794

Texas 2017 - 85th Regular

Caption

Relating to the biennial report to the legislature on grants made to entities under the Texas Enterprise Fund.

Impact

The enactment of SB794 would significantly modify existing statutes concerning the oversight of the Texas Enterprise Fund. By establishing stringent reporting guidelines, the bill is designed to ensure more accountability regarding how the grants from the fund are used to create job opportunities within the state. It will require more transparency regarding which sectors benefit from these grants and the degree to which the fund serves economically disadvantaged communities through historically underutilized businesses.

Summary

Senate Bill 794 aims to enhance the reporting requirements for grants made under the Texas Enterprise Fund. The bill mandates the governor to submit a detailed biennial report to the legislature before each regular session. This report must contain crucial metrics concerning job creation, including the number of jobs promised versus those actually created, wage details, capital investment amounts from grant recipients, and specific counts pertaining to historically underutilized businesses. The information is intended to provide lawmakers with a clearer understanding of the fund's effectiveness in stimulating employment and supporting local economies.

Contention

While the bill broadly garners support for its intention to promote transparency and accountability, it may face contention regarding its implementation and potential bureaucratic burdens. Opponents might argue that increased reporting requirements could divert resources away from the primary mission of job creation. Additionally, there may be debates over the definitions and classification of historically underutilized businesses and how the bill's stipulations may favor certain sectors or types of businesses over others, which could create unintended consequences.