| 1 | 1 | | 87R10368 MWC-D |
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| 2 | 2 | | By: Lucio III H.B. No. 3536 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the use of the Texas Enterprise Fund for a small |
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| 8 | 8 | | business loan guarantee program. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Section 481.078, Government Code, is amended by |
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| 11 | 11 | | adding Subsections (b-1) and (m) to read as follows: |
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| 12 | 12 | | (b-1) A balance sufficient to pay the fund's obligations |
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| 13 | 13 | | under loan guarantees made under Subsection (m) must be maintained |
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| 14 | 14 | | in the fund. |
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| 15 | 15 | | (m) The fund may be used to guarantee small business loans |
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| 16 | 16 | | that have been determined by the United States Small Business |
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| 17 | 17 | | Administration to meet the requirements of a loan eligible for a |
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| 18 | 18 | | loan guarantee under the 7(a) loan program established under 15 |
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| 19 | 19 | | U.S.C. Section 636(a). A loan guaranteed by the fund under this |
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| 20 | 20 | | subsection may not exceed $2 million. The structure of loan |
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| 21 | 21 | | guarantees under this subsection must be modeled on the United |
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| 22 | 22 | | States Small Business Administration's 7(a) loan program |
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| 23 | 23 | | established under 15 U.S.C. Section 636(a). |
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| 24 | 24 | | SECTION 2. Section 481.079(a), Government Code, is amended |
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| 25 | 25 | | to read as follows: |
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| 26 | 26 | | (a) Before the beginning of each regular session of the |
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| 27 | 27 | | legislature, the governor shall submit to the lieutenant governor, |
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| 28 | 28 | | the speaker of the house of representatives, and each other member |
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| 29 | 29 | | of the legislature a report on grants or loan guarantees made under |
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| 30 | 30 | | Section 481.078 that states: |
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| 31 | 31 | | (1) with respect to grants awarded under the fund: |
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| 32 | 32 | | (A) the number of direct jobs each recipient |
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| 33 | 33 | | committed to create in this state; |
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| 34 | 34 | | (B) [(2)] the number of direct jobs each |
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| 35 | 35 | | recipient created in this state; |
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| 36 | 36 | | (C) [(3)] the median wage of the jobs each |
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| 37 | 37 | | recipient created in this state; |
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| 38 | 38 | | (D) [(4)] the amount of capital investment each |
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| 39 | 39 | | recipient committed to expend or allocate per project in this |
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| 40 | 40 | | state; |
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| 41 | 41 | | (E) [(5)] the amount of capital investment each |
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| 42 | 42 | | recipient expended or allocated per project in this state; |
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| 43 | 43 | | (F) [(6)] the total amount of grants made to each |
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| 44 | 44 | | recipient; |
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| 45 | 45 | | (G) [(7)] the average amount of money granted in |
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| 46 | 46 | | this state for each job created in this state by grant recipients; |
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| 47 | 47 | | (H) [(8)] the number of jobs created in this |
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| 48 | 48 | | state by grant recipients in each sector of the North American |
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| 49 | 49 | | Industry Classification System (NAICS); and |
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| 50 | 50 | | (I) [(9)] of the number of direct jobs each |
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| 51 | 51 | | recipient created in this state, the number of positions created |
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| 52 | 52 | | that provide health benefits for employees; and |
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| 53 | 53 | | (2) with respect to small business loans guaranteed by |
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| 54 | 54 | | the fund: |
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| 55 | 55 | | (A) the number of loans guaranteed by the fund; |
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| 56 | 56 | | and |
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| 57 | 57 | | (B) the average loan amount guaranteed. |
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| 58 | 58 | | SECTION 3. This Act takes effect September 1, 2021. |
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