| (A) the certified investors name, address, and taxpayer identification number; (B) the date and amount of investment received by the CAPCO from each certified investor; and (C) the type and amount of security issued by the CAPCO to the certified investors in exchange for the investment resulting in premium tax credits, including the names of the companies that issued the security together with a copy of the security instrument. (2) An annual report due each January 31 that contains: (A) the amount of the CAPCO's certified capital, including details of all investments, at the end of the preceding calendar year, including but not limited to whether or not the company has invested more than 15% of its total certified capital in any one business for Program One or Program Two; (B) a detailed listing of investment violations under this section; (C) each qualified investment the CAPCO made during the preceding year and, with respect to each qualified investment, the number of retained jobs and the average wages paid per employee of the qualified business at the time the qualified investment was made with respect to Program One and Program Two; (D) the number of jobs created by the investment and the average wages paid for the jobs; (E) the classification of the qualified businesses according to the industrial sector and the size of the business; (F) a copy of the business plan or plan of operation for each of the qualified businesses in which the CAPCO invested in the preceding year; and (G) any other information the comptroller requires by notification or instructions to each CAPCO. (3) An annual audited financial statement for the prior calendar year ending December 31, by April 1, that includes the opinion of an independent certified public accountant. The auditor shall also address the methods of operation and conduct of the business of the company by performing certain agreed upon procedures to determine whether: (A) the company is complying with Insurance Code, Chapter 4, Subchapter B, with respect to the CAPCO requirements and the rules adopted in this section; (B) the funds received by the company have been invested as required within the time provided by Insurance Code, Article 4.56(a); and (C) the company has invested the funds in qualified businesses. (k) Report to the legislature. The comptroller shall prepare a biennial report to the legislature with respect to results of implementation of this section. This report shall be filed with the governor, the lieutenant governor, and the speaker of the house of representatives, not later than December 15 of each even-numbered year. The report shall include: (1) the names and number of CAPCOs holding certified capital; (2) the amount of certified capital invested in each CAPCO; (3) the amount of certified capital the CAPCO has invested in qualified business, including the names and locations of the businesses, as of January 1, 2006, and each subsequent year; (4) the amount of tax credits granted based on certified investments along with the tax credits taken by year; (5) the performance of each CAPCO with respect to renewal and reporting requirements; (6) information concerning qualified businesses in which CAPCOs have invested, and is to include: (A) the classification of the businesses, along with the industrial sector and size of each business; (B) the total number of jobs created by the investment and the average wages paid for the jobs; and (C) the total number of jobs retained as a result of the investment and the average wages paid for the jobs; (7) a list of the CAPCOs that have been decertified or that have failed to renew the certification and the reason for any decertification. (l) Confidentiality: any information containing confidential business or trade secrets shall be kept confidential only to the extent provided by the Texas Public Information Act, Texas Government Code, Chapter 552. |
