Governor Greg Abbott and Texas Comptroller Glenn Hegar have announced another new effort to reform the state’s financial incentive policy. They announced a new proposal Thursday to restructure the oversight of the state’s four major events trust funds. They want the Legislature to approve moving control of the funds from the comptroller’s office to the governor’s office, which also oversees other economic incentive funds like the Texas Enterprise Fund.

It’s another move by Governor Abbott to reign in the state’s incentive programs, which have been plagued by controversy recently over accusations of lack of oversight. Last month, the governor proposed shutting down another controversial program, the Emerging Technology Fund. The former comptroller, Susan Combs, was criticized for using the major events fund on projects that were already likely to come to Texas. Questions have also been raised as to whether investors of the Formula One racing track in Austin ever submitted a formal application for funding they received to help pay for construction.

Governor Abbott released this statement:

“As part of our broader efforts to maximize efficiency and accountability in state government, Comptroller Hegar and I have identified weaknesses in Texas’ economic development programs and provided a roadmap for reform that will optimize our state’s economic development strategy. The transfer of these programs to the Governor’s Economic Development and Tourism Division will leverage our existing economic resources and promote Texas as a world-class commercial destination nationally and globally.”