Laserfiche WebLink
Minutes of the PEDC <br /> April 11, 2001 <br /> · Page 4 <br /> <br />Texas Economic Development Council, or to someone who can provide this <br />training. Another bill that Mr. Vest testified in favor of was House Bill <br />3298 by Bonnen and that bill relates to the contracting authority of any <br />authorized uses for corporate revenue by certain industrial development <br />corporation, which is what we are presently doing. He said it came in <br />question with a law firm in Houston as to whether or not that was legal, so <br />Representative Bonnen wrote it into law to make it clear that it was legal. <br />Mr. Vest said that bill passed out of committee while he was there. Another <br />bill that he testified against was House Bill 3271 introduced by <br />Representative Coleman and it relates to the regulation of state subsidies <br />granted for economic development purposes. Mr. Vest said why he <br />mentioned this bill is because it is similar to a bill that Jim Solis had written <br />called House Bill 932, which they were up in arms about. There was also <br />Senate Bill 275 written by Senator Schackley, and you will remember that <br />Senator Schackley is in El Paso and El Paso is one of the cities that is <br />exempt from having a sales tax corporation. Jim Solis is in San Antonio <br />which is also exempted from the sales tax corporation. Garnett Coleman <br />is from Houston who is also exempted ,and they want the sales tax <br />corporation to go out of business. Mr. Vest explained that Representative <br />Coleman's bill would require all state entities or any corporation that is <br />formed by a municipality, if they wanted to give an incentive to a prospect, <br />they would have to run that through the comptroller, and do a cost benefit <br />analysis. He said the comptroller would run it through the Texas <br />Department of Economic Development and they would make a <br />recommendation, then the comptroller would report to the legislature. Mr. <br />Vest advised the Board that this would add about a year to any incentive <br />they wanted to do and possibly two years, which would kill the ability of the <br />EDC's to function. <br /> <br /> <br />