| Item Title: | Budget and Fiscal Policy - Request for Capital Credits to State Comptroller |
| Submitted By: | Wallace Hardgrove, Executive Director, Budget and Fiscal Policy Department (915) 546-2262 |
| Subject: | Approve and authorize the County Judge to sign the County Request for Capital Credits and allow submittal to the Texas Comptroller of Public Accounts, Unclaimed Property Division. (OP-20-0677) |
| Background: | In conjunction with Local Government Code, Section 381.004, Texas Property Code, Section 74.602 authorizes the Texas Comptroller of Public Accounts (Comptroller’s office) to allocate a portion of the unclaimed capital credits received from electric cooperatives back to the counties in the cooperatives’ service area.
El Paso County may use capital credits to develop and administer a program:
- for state or local economic development
- for small or disadvantaged business development
- to stimulate, encourage and develop business location and commercial activity in the county
- to promote or advertise the county and its vicinity or conduct a solicitation program to attract conventions, visitors and businesses
- to improve the extent to which women and minority businesses are awarded county contracts
- to support comprehensive literacy programs that benefit county residents
- for the encouragement, promotion, improvement and application of the arts
- to support a children’s advocacy center
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| Fiscal Impact: | To be determined--the County may or may not receive funding through this submittal to the Texas Comptroller of Public Accounts. |
| Recommendation: | Approve and authorize the County Judge to sign the County Request for Capital Credits and allow submittal to the Texas Comptroller of Public Accounts, Unclaimed Property Division. (OP-20-0677) |
| Prior Action: | N/A |
| Strategic Plan: | .. |
| Strategic Plan Information: | |