Honorable John Davis, Chair, House Committee on Economic & Small Business Development
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB3578 by Davis, John (Relating to the allocation of Texas Economic Development Bank resources.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Government Code to allow the Texas Economic Development Bank to allocate resources, including money held in, or due to, the Capital Access Fund account to certain Texas Economic Development Bank Programs, including those related to the Product Development Fund and the Small Business Incubator Fund.
The Office of the Governor and Comptroller of Public Accounts indicate the provisions of the bill could be implemented within existing resources.
The bill would take effect on September 1, 2013.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies:
301 Office of the Governor, 304 Comptroller of Public Accounts