Sec. 481.080. ECONOMIC AND FISCAL IMPACT STATEMENT FOR CERTAIN GRANT PROPOSALS  


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  • (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 , Sec. 2, eff. September 1, 2005.