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House Bill 48 |
House Author: Chavez et al. |
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Effective: Vetoed |
Senate Sponsor: Zaffirini |
House Bill 48 amends the Labor Code to delete provisions requiring certain distributions from the employment and training investment holding fund to the Texas enterprise fund and the skills development fund during any state fiscal biennium beginning on or after September 1, 2007, and to delete the provision requiring certain other distributions from the employment and training investment holding fund to the Texas enterprise fund and the skills development fund only in the state fiscal biennium ending August 31, 2007.
Reason Given for Veto: "House Bill No. 48 would change the distribution of funds from the Employment and Training Investment Assessment Holding Fund and would reduce funding for the Texas Enterprise Fund (TEF) by $12.8 million for the biennium.
"TEF has proven to be one of the state's most successful tools in job expansion and economic development by bringing more than 45,000 jobs and $15 billion in capital investment to Texas. House Bill No. 48 would needlessly reduce funding for this valuable program."