Sec. 481.658.  TEXAS SEMICONDUCTOR INNOVATION FUND.  (a)  The Texas Semiconductor Innovation Fund is created as a dedicated account within the general revenue fund.  The fund consists of:
(1)  gifts, grants, or donations to the fund; and
(2)  money from any other source designated by the legislature.
(b)  Money in the fund may be used to:
(1)  provide matching funding to state entities, including institutions of higher education, for semiconductor manufacturing and design projects;
(2)  award grants to business entities with an established presence in this state to encourage economic development related to semiconductor manufacturing and design; and
(3)  subject to Subsection (c), pay for staff support services described by Section 481.656(b).
(c)  The consortium shall request from the Legislative Budget Board approval to use money in the fund for the purpose described by Subsection (b)(3).  A request under this subsection shall be considered approved on the 30th day after receipt by the Legislative Budget Board unless expressly disapproved.
Added by Acts 2023, 88th Leg., R.S., Ch. 455 (H.B. 5174), Sec. 1, eff. June 9, 2023.