Bill Text: TX SB1390 | 2013-2014 | 83rd Legislature | Comm Sub

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Bill Title: Relating to an audit by the state auditor of the Texas Enterprise Fund.

Spectrum: Bipartisan Bill

Status: (Passed) 2013-06-14 - Effective on 9/1/13 [SB1390 Detail]

Download: Texas-2013-SB1390-Comm_Sub.html

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83R27497 DDT-F
By: Davis, et al. S.B. No. 1390
(J. Davis of Harris, Davis of Dallas, S. Davis of Harris)
Substitute the following for S.B. No. 1390: No.

A BILL TO BE ENTITLED
AN ACT
relating to an audit by the state auditor of the Texas Enterprise
Fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. (a) The state auditor shall conduct an audit of
the Texas Enterprise Fund established under Section 481.078,
Government Code. The state auditor may establish the scope of the
audit and objectives for the audit that are consistent with
generally accepted government auditing standards and with other
audits conducted by the state auditor under Chapter 321, Government
Code.
(b) The audit may determine whether money from the fund is:
(1) disbursed in compliance with the requirements of
the Government Code and other relevant laws or standards;
(2) monitored to determine whether the persons or
entities awarded money from the fund comply with the terms of any
applicable agreements and with the requirements of the Government
Code and other relevant laws or standards; and
(3) maintained in a manner that provides adequate
financial control systems to ensure accountability for the proper
use of the disbursed money.
(c) To the extent practicable, the state auditor may assess
the efficiency and effectiveness of the Texas Enterprise Fund.
(d) The state auditor shall prepare a report of the audit
conducted under this section. Not later than January 1, 2015, the
state auditor shall file the report with the lieutenant governor,
the speaker of the house of representatives, and the presiding
officer of each standing committee of the senate and house of
representatives having primary jurisdiction over fiscal matters.
The report may include:
(1) details on the grant approval process;
(2) details on the compliance of past and present
grant recipients with the terms of applicable agreements and with
the requirements of the Government Code and other relevant laws or
standards;
(3) a synopsis of grant agreements that have been
amended to reduce the job creation goals established in the
original agreement or to extend the time allotted to achieve job
creation goals; and
(4) an itemization of grant money returned to this
state, including a summary of the reasons the money was returned.
SECTION 2. This Act expires September 1, 2015.
SECTION 3. This Act takes effect September 1, 2013.