ECON DEV INCENTIVE EVAL ACT                                                            H.B. 6052 (H-1):

                                                                                                    SUMMARY OF BILL

                                                                                      REPORTED FROM COMMITTEE

 

 

 

 

 

 

 

 

 

House Bill 6052 (Substitute H-1 as reported without amendment)

Sponsor:  Representative Thomas A. Albert

House Committee:  Financial Liability Reform

Senate Committee:  Economic Development and International Investment

 


CONTENT

 

The bill would enact the "Economic Development Incentive Evaluation Act" to do the following:

 

 --    Require the Department of Technology, Management, and Budget (DTMB) to contract with one or more contractors for the periodic evaluation of economic development incentives.

 --    Require a contractor to complete an evaluation within 270 days of entering into a contract.

 --    Prescribe the frequency with which the DTMB would have to enter into a contract for an economic development incentive.

 --    Require, at the request of the DTMB, State agencies to provide to the contractor, to the extent permitted by law, any records, information, data, or data analysis necessary for the contractors to effectively evaluate the economic development incentives.

 --    Require the economic development incentive evaluations to be published on the Department's website.

 --    Prescribe the information that an evaluation would have to include.

 

                                                                             Legislative Analyst:  Nathan Leaman

 

FISCAL IMPACT

 

The bill would have a negligible fiscal impact on the Department of Technology, Management, and Budget associated with the requirement that DTMB contract with one or more entities for the periodic review of economic development incentives. The costs are indeterminate and would depend on the number of contracts that were entered into; however, the Department has stated that it anticipates any costs could be absorbed within the Department's annual appropriations. Additionally, there could be some negligible costs to other State departments to comply with the bill's requirements to provide DTMB with requests for records and data; however, these costs are indeterminate and would depend on the actual number of requests made by the DTMB.

 

Date Completed:  12-3-18                                                    Fiscal Analyst:  Joe Carrasco

 

 

 

 

This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.