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A BILL TO BE ENTITLED
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AN ACT
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relating to reporting requirements and other information in |
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connection with an award under the Texas emerging technology fund. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 490.005(b), Government Code, is amended |
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to read as follows: |
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(b) The annual report must also contain: |
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(1) the aggregate total number of jobs actually |
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created by all projects [each project] receiving funding under this |
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chapter; |
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(2) an analysis of the number of jobs actually created |
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by all projects [each project] receiving funding under this |
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chapter; and |
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(3) a brief description regarding: |
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(A) the methodology used to determine the |
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information provided under Subdivisions (1) and (2), which may be |
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developed in consultation with the comptroller's office; |
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(B) the intended outcomes of projects funded |
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under Subchapter D during each preceding state fiscal year; and |
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(C) the actual outcomes of all projects funded |
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under Subchapter D during each preceding state fiscal year, |
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including any financial impact on the state resulting from a |
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liquidity event involving a company whose project was funded under |
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that subchapter. |
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SECTION 2. Section 490.056, Government Code, is amended by |
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amending Subsection (c) and adding Subsection (c-1) to read as |
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follows: |
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(c) Each entity recommended by the committee for an award of |
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money under Subchapter D [from the fund as provided by this chapter] |
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shall obtain and provide the following information to the office of |
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the governor: |
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(1) a federal criminal history background check for |
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each principal of the entity; |
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(2) a state criminal history background check for each |
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principal of the entity; |
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(3) a credit check for each principal of the entity; |
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(4) a copy of a government-issued form of photo |
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identification for each principal of the entity; and |
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(5) information regarding whether the entity or a |
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principal of the entity has ever been subject to a sanction imposed |
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by the Securities and Exchange Commission for a violation of |
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applicable federal law. |
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(c-1) A criminal history background check provided for a |
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principal of an entity under Subsection (c) remains in effect for |
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five years, regardless of the number of applications for funding |
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under this chapter submitted by the entity during that period. |
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SECTION 3. Section 490.057(a), Government Code, is amended |
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to read as follows: |
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(a) Except as provided by Subsection (b), information |
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collected by the governor's office, the committee, or the |
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committee's advisory panels concerning the identity, background, |
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finance, marketing plans, trade secrets, or other commercially or |
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academically sensitive information of an individual or entity |
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applying for, being considered for, receiving, or having received |
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an award from the fund is confidential unless the individual or |
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entity consents to disclosure of the information. |
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SECTION 4. This Act takes effect September 1, 2013. |