TX HB1268

Creates the Texas Technology and Innovation Program to foster job creation and economic development by matching or supplementing federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) funding received by Texas businesses

Eligible businesses must meet at least one Texas presence requirement: organized under Texas law, headquartered in Texas, maintain a manufacturing facility in the state, or have more than half of employees residing in Texas

Recipients must use E-verify for new employees, cannot receive concurrent funding from other state programs serving the same purpose, and must meet federal SBIR/STTR phase one or phase two requirements

Limits grants to one per business entity per state fiscal year and a maximum of five grants per phase, with grant assignments requiring prior written consent from the administering office

Takes effect September 1, 2025, with implementation contingent on specific appropriations; the Texas Economic Development and Tourism Office must adopt rules and report cost estimates to the Legislative Budget Board if funding prevents implementation