Enrolled Bill Summary

            Senate Bill 1771 amends provisions of the Government Code relating to economic development programs and funding. The bill requires the executive director of the Texas Department of Economic Development or its successor to coordinate certain economic development efforts with the legislature and state agencies, including each agency that administers a job training or job creation program, and private entities. The bill also establishes the Texas Enterprise Fund to fund economic development, infrastructure development, community development, job training programs, and business incentives. The bill also provides that the fund may be temporarily used by the comptroller for cash management purposes. The fund is to be administered by the governor's office and will consist of appropriations, interest, and donations. The governor is authorized to award grants from the fund with written prior approval of the lieutenant governor and speaker of the house of representatives and to enter into an agreement with a grantee specifying certain conditions, including repayment. The bill creates an advisory board of economic development stakeholders to assist the department and establishes the board's composition, terms, and duties. Finally, the bill authorizes the department or its successor to recommend that a taxing unit enter into a tax abatement agreement with certain persons and that a school district grant a person a limitation on appraised value.