HB 26, HB 27, and HB 28 authored by Rep. Angie Chen Button lays the groundwork for Economic Development reform in Texas. The reform package eliminates the Emerging Technology Fund, restructures the Texas Enterprise Fund, and takes measures to increase transparency and efficiency. Button proposes all economic development programs go through a regular independent audit and for the elimination of underutilized programs. The legislation includes the creation of an Economic Incentive Oversight Board charged with regularly reviewing programs, participating in the awards process, and forming metrics to evaluate the success of programs.
HB 26 – Relating to state economic development measures, including administration of the Texas Enterprise Fund, creation of the Economic Incentive Oversight Board, abolishment of the Texas emerging technology fund and certain programs and funds administered by the Texas Economic Development Bank, renaming the Major Events trust fund to the Major Events Reimbursement Program, and disposition of balances from the Texas emerging technology fund.
HB 27 – Relating to state economic development measures, including administration of the Texas Enterprise Fund, the abolishment of the Texas emerging technology fund, and the disposition of balances from the Texas emerging technology fund.
HB 28 – Relating to an audit by the state auditor of certain programs and funds providing economic development incentives to entities and other persons.