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A BILL TO BE ENTITLED
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AN ACT
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relating to use of the money from the Texas enterprise fund to |
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promote renewable energy technology. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 481.078, Government Code, is amended by |
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adding Subsections (k), (l), and (m) to read as follows: |
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(k) At least 10 percent of the total amount of grants made |
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from the fund must be to fund the establishment and expansion of |
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enterprises in this state that have as their primary purpose the |
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provision of energy derived from renewable energy technology, as |
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defined by Section 39.904(d), Utilities Code, unless the governor |
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determines that compliance with this subsection would be |
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impracticable or would be inconsistent with the purpose and intent |
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of the fund. |
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(l) The governor shall submit an annual report to the |
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legislature regarding any grants awarded during the reporting |
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period under Subsection (k). |
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(m) If the governor determines that compliance with |
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Subsection (k) would be impracticable or would be inconsistent with |
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the purpose and intent of the fund, the governor shall submit a |
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biennial report to the legislature that contains a statement of the |
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particular reasons for noncompliance with Subsection (k) and the |
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following information regarding each enterprise that applied for a |
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grant under Subsection (k) during the reporting period: |
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(1) the name and physical address of the enterprise; |
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(2) the nature of the enterprise; |
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(3) the amount of the grant applied for; |
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(4) the projected number of jobs to be created by the |
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enterprise; |
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(5) the projected total return to this state in both |
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projected number of jobs to be created and amount of capital |
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investment made; and |
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(6) the reason for denying the application. |
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SECTION 2. This Act takes effect September 1, 2009. |