June Commerce Club Featuring a Panel Discussion on 89th Texas Legislature Session
Briscoe Cain and Joe Rosenthal, Panelist Speakers; Vincent DiCosimo, Moderator
The June Commerce Club offered a snapshot of industry impacts from the wrap-up of the 89th Texas legislative session. Targa Resources sr. vice president of government affairs and chairman of the Port Bureau, Vincent DiCosimo, served as moderator, as Texas representatives Briscoe Cain (D-128) and Jon Rosenthal (D-135) offered their perspectives to attendees.
Accomplishments discussed were the record number of votes that took place (over 1200 bills passed during the session) and the passing of the budget, $338 billion – a 27.6% increase from the 2022-23 budget. Included in the budget was property tax relief, additional funding for public education (including teacher pay raises), and $5 billion for the Texas Energy Fund, among other provisions.
Also noted by the representatives was the passage of Senate Bill (“SB”) 7 and House Joint Resolution (“HJR”) 7, which paves the way for largest water infrastructure investment in Texas history. SB 7 updates the statutory framework of the Texas Water Fund to strengthen the capacity of the Texas Water Development Board to support critical water, wastewater, and flood mitigation needs throughout the state as well as making other provisions. HJR 7 proposes a constitutional amendment that dedicates $1 billion of state sales and use tax revenue annually for 20 years to the Texas Water Fund beginning Sept. 1, 2027, and will need voter approval in November.
Panelists also referenced SB 1939 as it ensures that interest earned on the Ship Channel Improvement Revolving Fund (“SCIRF”) remains in the fund for maritime investments. However, the Port Mission Plan, developed by the Texas Department of Transportation, faced challenges and did not receive the requested funding. The panelists commended the collaborative spirit of the port region and stressed the importance of continuing to work together on maritime infrastructure funding goals.
Also noted was the enactment of HB 150, creating the Texas Cyber Command, centralizing cybersecurity for public entities and influencing vendor and contractor obligations. Texas Cyber Command will feature a cyber threat intelligence center to identify and fix vulnerabilities in government systems and train state workers about preventing cyber breaches. It will also contain a digital forensics lab and an incident response unit. The new organization will be headquartered at the University of Texas at San Antonio.
Thank you to our Commerce Club sponsors!
Annual Table sponsors:
Callan Marine • Chevron/Kirby • Enterprise Products Partners • Kinder Morgan • Houston Pilots • Intercontinental Terminals Company • Moran Shipping Agencies, Inc. • Pemex • Port Houston • Targa Resources • TGS Ceder Port Industrial Park • WGMA
June Table sponsors: