TITLE: Relating to prohibiting the use of money from the Texas Enterprise Fund or the Texas emerging technology fund for compensation to executives.

SUMMARY: Relating to prohibiting the use of money from the Texas Enterprise Fund or the Texas emerging technology fund for compensation to executives.

FULL TEXT:
AN ACT relating to prohibiting the use of money from the Texas Enterprise Fund or the Texas emerging technology fund for compensation to executives. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 481.078, Government Code, is amended by adding Subsection (d-2) to read as follows: (d-2) An entity that receives a grant under this section may not use any grant money to compensate the chief executive officer, chief financial officer, or any other executive officer of the entity. SECTION 2. Section 490.101, Government Code, is amended by adding Subsection (c-2) to read as follows: (c-2) An entity that receives an award of money under this chapter may not use any amount awarded to compensate the chief executive officer, chief financial officer, or any other executive officer of the entity. SECTION 3. This Act takes effect September 1, 2013.