What does Texas HB500 do?
HB500 is an immediately effective supplemental appropriations act that injects over $10 billion into state infrastructure and regulatory modernization, triggering immediate procurement opportunities and compliance shifts. While primarily fiscal, the law mandates the deployment of new mandatory reporting portals for the oil and gas sector, freezes licensure fees for specific trades, and initiates the transfer of lottery regulation to the Texas Department of Licensing and Regulation (TDLR). Implementation Timeline Effective Date: June 22, 2025 (Immediate).