TO: | Honorable Chris Harris, Chair, Senate Committee on Economic Development |
FROM: | John S. O'Brien, Director, Legislative Budget Board |
IN RE: | SB1743 by Hinojosa (Relating to the use of money from the Texas Enterprise Fund to recruit and retain automotive manufacturing facilities.), As Introduced |
The bill would authorize municipalities to be eligible to receive grants from the Texas Enterprise Fund, not to exceed $50 million in one fiscal year, to recruit or retain automotive manufacturing facilities. The bill would be effective September 1, 2009.
The Office of the Governor reports that the agency may need to seek assistance from outside legal and financial counsel with expertise in the automotive manufacturing industry when making these grant awards. It is assumed that costs associated with implementation could be absorbed within existing resources.
Source Agencies: | 301 Office of the Governor
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LBB Staff: | JOB, JRO, MS, BTA, DB
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