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In November, 2016, the Texas Senate Committee on Natural Resources and Economic Development issued an Interim Report to the 85th Legislature that was extremely critical of the Chapter 313 program. [23] The Texas Comptroller of Public Accounts started issuing biennially reports on limitation economic development projects in 2008. [40]
Under this renewal, DERA would be active until 2016, and the legislation would attempt to modify the program by adding a competitive bidding process for groups seeking funding. This bill would eligibility requirements for grants and low-cost loans to include individual owners and other private entities that manage diesel fleets and are ...
The NMTC Program provides tax credits to investors for equity investments in certified Community Development Entities (CDEs), which invest in low-income communities. [ 2 ] [ 3 ] The credit equals 39% of the investment paid out over seven years (5% in each of the first three years, then 6% in the final four years).
The program has been known as RAISE since 2021, and has awarded 90 projects across 47 states plus the District of Columbia and Guam in 2021, 166 projects across 50 states and various territories in 2022, and 162 projects across 50 states and various territories in 2023. [11] In 2023, the program received $2.2 billion in federal funding. [12]
The Texas Enterprise Fund is a business incentive fund that was created by legislation in 2003. The fund, which had an initial $295 million investment, is used for ensuring the growth of business in Texas. One of Texas’ most competitive recruitment tools, these funds are used primarily to attract new business to the state or assist with the ...
A federal grant is an award of financial assistance from a federal agency to a recipient to carry out a public purpose of support or stimulation authorized by a law of the United States. Grants are federal assistance to individuals, benefits or entitlements. A grant is not used to acquire property or services for the federal government's direct ...
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The CDBG program was enacted in 1974 by President Gerald Ford through the Housing and Community Development Act of 1974 and took effect in January 1975. Most directly, the law was a response to the Nixon administration's 1973 funding moratorium on many Department of Housing and Urban Development (HUD) programs.