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House Bill 26 |
House Author: Button et al. |
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Effective: 9-1-15 |
Senate Sponsor: Fraser et al. |
House Bill 26 is an omnibus bill relating to state economic development measures that amends the Education Code and Government Code to abolish the Texas emerging technology fund; establish the governor's university research initiative as the successor to the Texas emerging technology fund; create the Economic Incentive Oversight Board, which is responsible for reviewing certain state incentive programs; revise a review deadline in connection with a proposed grant from the Texas Enterprise Fund; and rename the Major Events trust fund as the Major Events Reimbursement Program. Under the governor's university research initiative, which is to be administered by the Texas Economic Development and Tourism Office (TEDTO), the bill requires TEDTO to award matching grants from the governor's university research initiative fund established by the bill to assist a general academic teaching institution or medical and dental unit in recruiting distinguished researchers. The bill requires the Texas Treasury Safekeeping Trust Company to manage and wind up the state's emerging technology investment portfolio.