Relating to the establishment of the small business assistance disaster recovery program.
The bill, if enacted, will amend the Government Code to add a new section dedicated to the small business assistance disaster recovery program. This program will enable the state to deliver tailored economic support to businesses grappling with the aftermath of disasters. Such assistance can range from help in applying for loans to general resources regarding taxation and accounting—critical areas where small businesses often seek guidance post-disaster.
House Bill 4067 aims to establish a small business assistance disaster recovery program in Texas to support small businesses that experience economic distress due to declared disasters, whether federal or state. The program is to be administered by the Office of Small Business Assistance and will provide resources and assistance for small businesses, including information about securing funding, technical help, and guidance on regulations affecting them. However, it will not offer direct legal or accounting advice but will instead connect businesses with appropriate professionals for such services.
The general sentiment around HB 4067 is positive, as it focuses on aiding small businesses during challenging times. Lawmakers recognize the vital role that small businesses play in the economy and the need for targeted support systems in the aftermath of disasters. There is a shared understanding that without such assistance programs, many small businesses may struggle to survive, particularly in economically vulnerable areas.
Some notable points of contention surrounding this bill include concerns about the availability of funding necessary for the program's implementation. The bill stipulates that the Texas Economic Development and Tourism Office will only be required to implement the program if funds are specifically appropriated for it. Critics may question whether sufficient funding will be allocated, thereby potentially limiting the effectiveness of the proposed assistance program.