Friday, January 21, 2022
27.7 F
Fort Worth
970x250_DM_Leasing

Texas House votes to dissolve Perry pet startup Fund

🕐 1 min read

AUSTIN, Texas (AP) — The Texas House has preliminarily passed a plan revamping the state’s economic incentive programs, including dissolving a pet fund of Rick Perry that funneled $200 million in taxpayer dollars to startups.

Lawmakers used a simple voice vote Thursday to advance the measure, which Perry’s successor, Gov. Greg Abbott, has prioritized.

It eliminates the Emerging Technology Fund. Perry said the fund spurred Texas’ economy, but critics note it funded some firms that didn’t create jobs or went bankrupt.

Another taxpayer-fueled fund for events would be renamed the Major Events Reimbursement Program.

The bill would also create the Governor’s University Research Initiative, which will provide matching funds to Texas schools to recruit top faculty.

The House vote comes a day after the Senate passed a similar proposal scrapping the Emerging Technology Fund.

Related Articles

970x250_DM_Leasing

Our Digital Sponsors

Latest Articles

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

This field is for validation purposes and should be left unchanged.