| TO: | Honorable Chris Harris, Chair, Senate Committee on Economic Development |
| FROM: | John S. O'Brien, Director, Legislative Budget Board |
| IN RE: | HB2531 by Chavez (Relating to a reporting requirement regarding the Texas emerging technology fund. ), Committee Report 2nd House, Substituted |
The bill would implement a recommendation in the Legislative Budget Board Government Effectiveness and Efficiency Report entitled “Improve Accountability for the Texas Emerging Technology Fund.”
The bill would require the governor to submit an annual report which shows the award allocations and actual performance of the Emerging Technology Fund (ETF). The annual report would show the ETF's total number and amount of awards. For each of the ETF's programs (commercialization, matching, and research superiority), the annual report would identify the program's total award amounts; the awards made to each recipient; their organizational structure; and the amounts received from any source besides the ETF.
For the commercialization program, the report would identify each company's ETF award, as well as its funding from the private sector and the federal government. Also, the report would include a brief description of each commercialization program investment, and the total value of the investment portfolio, as of the reporting period’s ending date.
Information would be provided in the report about the aggregate planned and actual outcomes resulting from awards made during the last two fiscal years.
The governor would be required to submit the annual report to the Legislative Budget Board and post it on the office of the governor's website. Once posted, the governor would be required to send email messages to members of the legislature that provide an electronic copy of the report or a link to report on the office of governor's website.
The governor would be required to submit the first annual report no later than January 1, 2011. All subsequent annual reports would be submitted by January 1 of each year.
| Source Agencies: | 301 Office of the Governor
|
| LBB Staff: | JOB, JRO, JI, RN, BTA
|