Monday, February 07, 2005

CPPP's report on the Texas Enterprise Fund

The Center for Public Policy Priorities issued a report last week on the Texas Enterprise Fund, which was a $300 million created last session to pay corporations to conduct business in Texas in exchange for the promise of jobs.

Perry uses the money in the TEF at his discretion with little oversight. This could be a problem since this is the largest fund of its kind (a "cash-based economic development incentive program" as the report calls it).

This report also briefly refers to the Emerging Technologies Fund, another $300 million fund that Perry wants to create this session for the private sector to work more closely with university researchers.

There are two bills that have been filed by the Senate so far - SB 105 and 277 - that are working to provide some oversight on the TEF and ensure that more money goes to the border, not just metropolitan areas.



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