85R1976 CLG-D

By: Burton S.B. No. 1816

A BILL TO BE ENTITLED

AN ACT

relating to abolishing the spaceport trust fund and the disposition of the balance of that fund.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. Sections 481.0066(d) and (e-1), Government Code, are amended to read as follows:

(d) The aerospace and aviation office shall:

(1) analyze space-related and aviation-related research currently conducted in this state and may conduct activities designed to further that research;

(2) analyze the state's economic position in the aerospace and aviation industries;

(3) develop short-term and long-term business strategies as part of an industry-specific strategic plan to promote the retention, development, and expansion of aerospace and aviation industry facilities in the state that is consistent with and complementary of the office strategic plan;

(4) make specific recommendations to the legislature and the governor regarding the promotion of those industries;

(5) as part of and to further the purposes of the industry-specific strategic plan described by Subdivision (3), develop short-term and long-term policy initiatives or recommend reforms the state may undertake or implement to:

(A) increase investment in aerospace and aviation activities;

(B) support the retention, development, and expansion of spaceports in this state;

(C) identify and encourage educational, economic, and defense-related opportunities for aerospace and aviation activities;

(D) [determine the appropriate level of funding for the spaceport trust fund created under Section 481.0069 and] support ongoing projects that have been assisted by the former spaceport trust fund [, including recommending to the legislature an appropriate funding level for the fund];

(E) partner with the Texas Higher Education Coordinating Board to foster technological advancement and economic development for spaceport activities by strengthening higher education programs and supporting aerospace activities; and

(F) partner with the Texas Workforce Commission to support initiatives that address the high technology skills and staff resources needed to better promote the state's efforts in becoming the leading space exploration state in the nation;

(6) act as a liaison with other state and federal entities with related economic, educational, and defense responsibilities to support the marketing of the state's aerospace and aviation capabilities;

(7) provide technical support and expertise to the state and to local spaceport authorities regarding aerospace and aviation business matters; and

(8) be responsible for the promotion and development of spaceports in this state.

(e-1) The aerospace and aviation advisory committee shall:

(1) advise the governor on the recruitment and retention of aerospace and aviation jobs and investment;

(2) assist the office and the aerospace and aviation office in meeting the state's economic development efforts to recruit and retain aerospace and aviation jobs and investment;

(3) [advise the office, the aerospace and aviation office, and the governor on an appropriate funding level for the spaceport trust fund;

[(4)] advise the office, the aerospace and aviation office, and the governor on recruitment, retention, and expansion of aerospace and aviation industry activities; and

(4) [(5)] collect and disseminate information on federal, state, local, and private community economic development programs that assist or provide loans, grants, or other funding to aerospace and aviation industry activities.

SECTION 2. Section 481.0069, Government Code, is repealed.

SECTION 3. (a) In this section:

(1) "Office" means the Texas Economic Development and Tourism Office.

(2) "Spaceport development corporation" has the meaning assigned by Section 507.001, Local Government Code.

(b) On September 1, 2017, the spaceport trust fund is abolished and the balance of the fund is transferred to the general revenue fund for use in accordance with legislative appropriation, except as provided by Subsections (d) and (e) of this section.

(c) The abolishment of the spaceport trust fund and the repeal of Section 481.0069, Government Code, do not affect the validity of a contract between the office and a spaceport development corporation that is entered into under Section 481.0069(e), Government Code, before September 1, 2017.

(d) Money that was deposited in the spaceport trust fund as a gift, grant, or donation under Section 481.0069(c)(1), Government Code, shall be held in trust by the comptroller outside the state treasury and shall be administered by the comptroller as trustee as provided by this subsection. The comptroller may:

(1) spend money encumbered by the specific terms of the gift, grant, or donation only in accordance with those terms;

(2) return to the donor or grantor, on request, any portion of the amount of a gift, grant, or donation described by this subsection that remains on deposit; or

(3) transfer to the general revenue fund for use in accordance with legislative appropriation any other remaining money deposited as a gift, grant, or donation under Section 481.0069(c)(1), Government Code.

(e) Money from the spaceport trust fund that is encumbered because the money is obligated by contract before September 1, 2017, but under the terms of the contract will not be distributed until a later date shall be held in trust by the comptroller as trustee outside the state treasury and shall be administered by the comptroller as trustee to ensure that the money is distributed in accordance with the terms of the contract. If the office determines that the money will not be distributed in accordance with the terms of contract, the office shall certify that fact to the comptroller. On that certification, the comptroller shall transfer that money to the general revenue fund to be used in accordance with legislative appropriation.

(f) On or after the effective date of this Act, the following payments or other amounts shall be remitted to the comptroller for deposit to the general revenue fund:

(1) any interest or income earned on the investment of money in the spaceport trust fund;

(2) any money returned by a spaceport development corporation pursuant to a contract entered into under Section 481.0069, Government Code; and

(3) any money received by a donor or grantor under Subsection (d)(2) of this section that is subsequently returned to the state.

SECTION 4. This Act takes effect September 1, 2017.