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F I S C A L I M P A C T R E P O R T
SPONSOR Trujillo
ORIGINAL DATE
LAST UPDATED
1/28/08
HB 349
SHORT TITLE Promote Economic Empowerment
SB
ANALYST Earnest
APPROPRIATION (dollars in thousands)
Appropriation
Recurring
or Non-Rec
Fund
Affected
FY08
FY09
$100.0
Recurring
General Fund
(Parenthesis ( ) Indicate Expenditure Decreases)
Duplicates SB369 and relates to SB443.
SOURCES OF INFORMATION
LFC Files
Responses Received From
Economic Development Department (EDD)
SUMMARY
Synopsis of Bill
House Bill 349 appropriates $100 thousand from the general fund to Economic Development
Department to promote economic empowerment through business development, workforce
preparation, convention networking and tourism, with an emphasis on small business and
Hispanic businesspersons.
FISCAL IMPLICATIONS
The appropriation of $100 thousand contained in this bill is a recurring expense to the general
fund. Any unexpended or unencumbered balance remaining at the end of fiscal year 2009 shall
revert to the general fund.
SIGNIFICANT ISSUES
EDD notes that the bill would provide for support of Hispanic-owned businesses. However,
because the appropriation is not a part of EDD’s recurring budget, a brand new program will be
established and just get off the ground, only to be left unfunded in the following fiscal year.