Legislative Accomplishments
81st Legislative Session
Despite challenging budgetary conditions, Gov. Rick Perry and the Texas Legislature passed a number of bills to strengthen economic development:
- The Texas Enterprise Fund received renewed funding of an estimated $200 million.
- The Emerging Technology Fund received renewed funding of approximately $203.5 million.
- $80 million was appropriated to the Skills Development Fund, the state's only customized job training program.
- $46 million was appropriated to support Career and Technology Education (CTE) over the next two years.
- HB 271 increased the number of enterprise zones projects that can be designated in a given biennium, expanding the Texas Enterprise Zone program.
- HB 873 strengthened the Moving Image Industry Incentive Program, which provides grants to companies making films, television shows, or other qualified media productions in Texas.
80th Legislative Session
Gov. Rick Perry continued to strengthen Texas' pro-business climate with the support of several bills designed to bolster economic development in the 80th Legislative Session:
- SB 1332 provided $100 million in private activity bond volume cap for economic development projects.
- The Texas Enterprise Fund received renewed funding of an estimated $200 million.
- The Emerging Technology Fund received renewed funding of approximately $165 million.
- $51 million was appropriated to the Skills Development Fund, an increase of $11 million to provide customized job training to an additional 8,000 workers.
- SB 792 permits Texas' innovative toll road program to continue forward in cooperation local toll authorities to build the roads that our growing state needs.
- Texas' superior roads and infrastructure continue to be a draw for economic development.
- An increase of $145.5 million in various grants will help 16,000 more students afford college, creating more highly educated workers for the future.
78th & 79th Legislative Session
Gov. Perry has made economic development and job creation a cornerstone of his administration. The key to fighting budget deficits is bringing new jobs to Texas.
- During the 78th Legislature, several pieces of significant legislation were passed to enhance the state’s economic development efforts and business climate including historic tort reform, the creation of the $295 million Texas Enterprise Fund, and a balanced budget with no new taxes, despite a $10 billion shortfall. The Texas Enterprise Fund was renewed at an estimated $180 million by the 79th Legislature. The 79th Legislature also created the $200 million Emerging Technology Fund that will expedite the development and commercialization of new technologies and will create and attract jobs in technology fields that will form the backbone of the Texas economy.
- During the 2006 Special Legislative Special Session, Gov. Perry successfully led the Texas Legislature in passing a comprehensive school finance reform package that provides a record 33 percent property tax cut and overhauls the state’s archaic business tax structure. Overall, the package provides a net tax reduction of $7 billion over three years to employers and property owners. The package of bills drew broad support from the state’s business community. The school finance package also includes taxpayer protections against ever increasing property tax hikes, establishes the largest incentive pay program for teachers in the country, and implements significant school reforms that will improve the education of young Texans.
- Gov. Perry also signed legislation to extend the Texas Economic Development Act (HB 1200) to the year 2011 and expanded the list of qualifying facilities. The Act allows public entities to create tax and other incentives at the local level to encourage corporate expansion and recruitment.
These historic measures, combined with Texas’ excellent infrastructure, diverse workforce and favorable tax climate, create an ideal environment for attracting business.
