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