Honorable Angie Chen Button, Chair, House Committee on Economic & Small Business Development
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB3364 by Button (Relating to the use of money from the Texas Enterprise Fund to reimburse grant recipients for certain expenses.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend Government Code relating to the use of money from the Texas Enterprise Fund to reimburse grant recipients for certain expenses.
The bill would authorize the Governor to use funds from the Texas Enterprise Fund to reimburse a grant recipient for a certain amount of the recipient's qualified expenses that are incurred under certain requirements. The bill would require the Office of the Governor to adopt any rules necessary for the administration and implementation of the program. The bill would limit reimbursable expenses contingent on the availability of money in the fund and subject to the discretion of the Governor.
Based on the LBB's analysis of the Trusteed Programs Within the Office of the Governor, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
The proposed legislation will take effect January 1, 2018.
Local Government Impact
According to the Office of the Governor, if the balance of the Texas Enterprise Fund is reduced, there could be an impact to communities competing for projects with other states and countries.
Source Agencies:
300 Trusteed Programs Within the Office of the Governor