Amend CSHB 2425 by striking "and P," from Section 116(4) and
adding the following new appropriately designated sections to the
bill:
SECTION ____: Section 403.401, Government Code is amended
to read as follows:
(4) "Office" means the office of the comptroller
governor.
SECTION ____: Section 403.403, Government Code, is amended
to read as follows:
(d) The governor shall designate comptroller is the
presiding officer of the board to serve in that capacity at the
pleasure of the governor.
SECTION ____: Section 403.406, Government Code, is amended
to read as follows:
(a) The board shall hold regular meetings in Austin and
other meetings at places and times scheduled by the board in formal
sessions and called by the governor comptroller.
SECTION ____: Section 403.413, Government Code, is amended
to read as follows:
(b) In determining eligible products and small businesses,
the board shall give special preference to products or businesses
in the areas of semiconductors, nanotechnology, biotechnology and
biomedicine that have the greatest likelihood of commercial
success, job creation, and job retention in this state.
(e) The board may appoint an advisory committee of experts
in the areas of semiconductors, nanotechnology, biotechnology and
biomedicine to review projects and businesses seeking financing
from the board.
(h) Any business in this state may be eligible for funding
through the small business incubator fund if it is determined to
have a substantial likelihood of developing and expanding the
opportunities for small businesses in the semiconductor, nanotech,
biotech or biomedicine industries in Texas.
SECTION ____: Section 403.408 Government Code, Subsection
403.403(f) Government Code and Subsection 403.413(f) Government
Code are repealed.
SECTION ____: Proceeds from bonds issued pursuant to
V.T.C.A., Government Code Section 403.410 and deposited in the
Product Development Fund are hereby appropriated to the Office of
the Governor to be used only for purposes specified in V.T.C.A.,
Government Code Subchapter P: Product Development and Small
Business Incubators and Section 71, Article XVI, Texas
Constitution. All funds deposited in the Product Development Fund
for debt service payments pursuant to contractual agreements
between the Board and eligible entities receiving awards from the
fund are hereby appropriated.