Texas § GV.481.080 - ECONOMIC AND FISCAL IMPACT STATEMENT FOR CERTAIN GRANT PROPOSALS

§ GV.481.080. ECONOMIC AND FISCAL IMPACT STATEMENT FOR CERTAIN GRANT PROPOSALS

ECONOMIC AND FISCAL IMPACT STATEMENT FOR CERTAIN GRANT PROPOSALS. (a) Before the governor awards a grant under Section 481.078 to an entity for a proposed initiative, the office shall prepare a statement that, specifically and in detail, assesses the direct economic impact that approval of the grant will have on the residents of this state. (b) The statement must include: (1) for the period covered by the grant: (A) the estimated number of jobs to be created in this state by the potential recipient each biennium; and (B) the estimated median wage of the jobs to be created in this state by the potential recipient each biennium; (2) the additional amount of ad valorem taxes, sales and use taxes, and fee revenues projected to be generated each year by governmental entities of this state; (3) the total amount of tax credits, local incentives, and other money or credits estimated to be distributed to the proposed grant recipient by governmental entities of this state; and (4) any other information the office considers necessary to include in the statement. Added by Acts 2005, 79th Leg., Ch. 602 (H.B. 1938 ), Sec. 2, eff. September 1, 2005. SUBCHAPTER H. BUSINESS DEVELOPMENT--PERMIT ASSISTANCE