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Texas Statutes (Last Updated: January 4, 2014) |
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GOVERNMENT CODE |
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Title 4. EXECUTIVE BRANCH |
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Subtitle F. COMMERCE AND INDUSTRIAL DEVELOPMENT |
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Chapter 490. FUNDING FOR EMERGING TECHNOLOGY |
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Subchapter B. TEXAS EMERGING TECHNOLOGY ADVISORY COMMITTEE |
Sec. 490.056. RECOMMENDATIONS FOR FUNDING
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(a) The committee shall make recommendations, through peer review and evaluation processes established by the committee, to the governor, lieutenant governor, and speaker of the house of representatives for the award of money from the fund as provided by this chapter.
(b) The committee may establish advisory panels of knowledgeable individuals from industry, state government, or academic occupations to assist in peer review activities under this chapter.
(c) Each entity recommended by the committee for an award of money from the fund as provided by this chapter shall obtain and provide the following information to the office of the governor:
(1) a federal criminal history background check for each principal of the entity;
(2) a state criminal history background check for each principal of the entity;
(3) a credit check for each principal of the entity;
(4) a copy of a government-issued form of photo identification for each principal of the entity; and
(5) information regarding whether the entity or a principal of the entity has ever been subject to a sanction imposed by the Securities and Exchange Commission for a violation of applicable federal law.
(d) For purposes of Subsection (c), "principal" means:
(1) an officer of an entity; or
(2) a person who has at least a 10 percent ownership interest in an entity.
(e) With each proposal to award funding submitted by the governor to the lieutenant governor and speaker of the house of representatives for purposes of obtaining prior approval, the governor shall provide each officer with a copy of the information provided by the appropriate entity under Subsection (c).