The bill would amend the Government Code to establish the Texas Quantum Initiative. The Initiative would be administratively attached to the Office of the Governor (OOG). The OOG would provide staff and facilities to support the Initiative. The Initiative would be governed by an executive committee composed of seven members: three appointed by the Governor, two appointed by the Lieutenant Governor, and two appointed by the Speaker of the House of Representatives. The executive committee would hire an executive director. The executive committee would submit a strategic plan annually to the Governor, Lieutenant Governor, and Speaker of the House of Representatives and submit a biennial report not later than December 1 of each even-numbered year to the Governor and the Legislative Budget Board (LBB).
The bill would also create the Quantum University and Business Innovation for Texas Fund as a dedicated account within the General Revenue Fund. The fund would consist of gifts, grant, or donations to the fund, and money from any other source designated by the Legislature. Money in the fund would be used to provide matching funding to state entities, including institutions of higher education, for quantum manufacturing and design projects. The fund could also be used to pay for certain staff support services. The bill would direct the executive committee to request approval from the LBB to use money in the fund. A request would be considered approved on the 30th day after receipt by the LBB, unless expressly denied.
Note: This legislation would do one or more of the following: create or recreate a dedicated account in the General Revenue Fund, create or recreate a special or trust fund either in, with, or outside the Treasury, or create a dedicated revenue source. The fund, account, or revenue dedication included in this bill would be subject to funds consolidation review by the current Legislature.