Amend CSSB 1811 (house committee printing) by adding the following appropriately numbered ARTICLE to the bill and renumbering subsequent ARTICLES and SECTIONS of the bill accordingly:

ARTICLE ____. TEXAS EMERGING TECHNOLOGY FUND

SECTION ____.01. Section 490.005(b), Government Code, is amended to read as follows:

(b) The annual report must also contain:

(1) the total number of jobs actually created by each project receiving funding under this chapter;

(2) an analysis of the number of jobs actually created by each project receiving funding under this chapter; and

(3) a brief description regarding:

(A) the methodology used to determine the information provided under Subdivisions (1) and (2);

(B) [~~(1)~~] the intended outcomes of projects funded under Subchapter D during the preceding two state fiscal years; and

(C) [~~(2)~~] the actual outcomes of all projects funded under Subchapter D during the fund's existence, including any financial impact on the state resulting from a liquidity event involving a company whose project was funded under that subchapter.

SECTION ____.02. The heading to Section 490.052, Government Code, is amended to read as follows:

Sec. 490.052. APPOINTMENT TO COMMITTEE [~~BY GOVERNOR~~]; NOMINATIONS.

SECTION ____.03. Section 490.052, Government Code, is amended by amending Subsection (a) and adding Subsections (a-1) and (a-2) to read as follows:

(a) The governor shall appoint to the committee 13 individuals nominated as provided by Subsection (b).

(a-1) The lieutenant governor shall appoint two senators to the committee.

(a-2) The speaker of the house of representatives shall appoint two members of the house of representatives to the committee.

SECTION ____.04. Subchapter B, Chapter 490, Government Code, is amended by adding Section 490.0521 to read as follows:

Sec. 490.0521. FINANCIAL STATEMENT REQUIRED. Each member of the committee shall file with the office of the governor and the Texas Ethics Commission a verified financial statement complying with Sections 572.022 through 572.0252 as is required of a state officer by Section 572.021.

SECTION ____.05. Section 490.054, Government Code, is amended to read as follows:

Sec. 490.054. TERMS. (a) Members of the committee appointed by the governor serve staggered two-year terms, subject to the pleasure of the governor.

(b) Members of the committee appointed by the lieutenant governor or the speaker of the house of representatives serve two-year terms.

SECTION ____.06. Subchapter B, Chapter 490, Government Code, is amended by adding Section 490.0551 to read as follows:

Sec. 490.0551. MEETINGS. (a) The committee shall hold meetings periodically to conduct the business of the committee.

(b) The committee and any subcommittee of the committee shall give notice of each meeting to be held by the committee or subcommittee, as applicable, to the secretary of state. The secretary of state shall post the notice on the secretary of state's Internet website at least 72 hours before the scheduled time of the meeting. The notice must contain:

(1) the date, time, and place of the meeting; and

(2) the agenda of items to be considered at the meeting.

(1) an indication of each committee member's vote, including any recusal by a member, on each matter under consideration by the committee; and

(2) a description of the specific nature of any conflict of interest disclosed by a committee member, including the manner in which the conflict of interest was resolved.

SECTION ____.07. Section 490.056, Government Code, is amended by adding Subsections (c), (d), and (e) to read as follows:

(c) Each entity recommended by the committee for an award of money from the fund as provided by this chapter shall obtain and provide the following information to the office of the governor:

(1) a federal criminal history background check for each principal of the entity;

(2) a state criminal history background check for each principal of the entity;

(3) a credit check for each principal of the entity;

(4) a copy of a government-issued form of photo identification for each principal of the entity; and

(5) information regarding whether the entity or a principal of the entity has ever been subject to a sanction imposed by the Securities and Exchange Commission for a violation of applicable federal law.

(d) For purposes of Subsection (c):

(1) "Controlling interest" has the meaning assigned by Section 171.0001, Tax Code.

(2) "Principal" means:

(A) an officer of an entity; or

(B) a person who directly or indirectly owns or controls a controlling interest in an entity.

(e) With each proposal to award funding submitted by the governor to the lieutenant governor and speaker of the house of representatives for purposes of obtaining prior approval, the governor shall provide each officer with a copy of the information provided by the appropriate entity under Subsection (c).

SECTION ____.08. Section 490.101, Government Code, is amended by adding Subsection (f-1) to read as follows:

(f-1) An award to a particular recipient from the fund may not exceed $3,000,000.

SECTION ____.09. Subchapter D, Chapter 490, Government Code, is amended by adding Section 490.1521 to read as follows:

Sec. 490.1521. MINUTES OF CERTAIN MEETINGS. (a) Each regional center of innovation and commercialization established under Section 490.152, including the Texas Life Science Center for Innovation and Commercialization, shall keep minutes of each meeting at which applications for funding under this subchapter are evaluated. The minutes must:

(1) include the name of each applicant recommended by the regional center of innovation and commercialization to the committee for funding; and

(2) indicate the vote of each member of the governing body of the regional center of innovation and commercialization, including any recusal by a member and the member's reason for recusal, with regard to each application reviewed.

(b) Not later than the 30th day after the date a meeting to which this section applies is held, the appropriate regional center of innovation and commercialization shall post a copy of the minutes of the meeting on the center's Internet website. The copy of the minutes must remain posted on the website for at least four years.

SECTION ____.10. (a) The terms of the members of the Texas Emerging Technology Advisory Committee serving on the effective date of this article expire September 1, 2011.

(b) As soon as practicable after this article takes effect, the governor, lieutenant governor, and speaker of the house of representatives shall appoint members to the Texas Emerging Technology Advisory Committee established under Subchapter B, Chapter 490, Government Code, in a manner that complies with that subchapter, as amended by this article.

(c) At the first meeting of members of the Texas Emerging Technology Advisory Committee established under Subchapter B, Chapter 490, Government Code, as amended by this article, occurring on or after September 1, 2011, the members appointed by the governor shall draw lots to determine which six members will serve a term expiring September 1, 2012, and which seven members will serve a term expiring September 1, 2013.

SECTION ____.11. Section 490.101(f-1), Government Code, as added by this article, applies only to an award from the Texas emerging technology fund that is made on or after the effective date of this article. An award from the Texas emerging technology fund made before the effective date of this article is governed by the law in effect on the date the award was made, and the former law is continued in effect for that purpose.