Texas Comptroller Manual of Accounts - Fiscal 2013
GR Account 5002 – GR Account - Young Farmer Loan Guarantee

Created in General Revenue for appropriations, transfers, grants and donations, income earned on the account and any other money received under this chapter purposes of the young farmer loan guarantee program.

NMT $100,000 during a fiscal year from income earned and application fees may be spent for administration.

Exempt from § 403.094, Government Code by H.B. 1287, 73rd Leg., R.S. Abolished by H.B. 3050, 76th Leg., R.S. and created a new Young Farmers Loan Guarantee Account within the Texas Agriculture Fund (0683). Account was not exempted in Funds Consolidation Bill (H.B. 3084) and became General Revenue. Although abolished, this account was retained for accounting purposes to identify the funds moved to GR 0001. H.B. 3088, 77th Leg., recreated the Young Farmer Loan Guarantee Account with the Texas Agriculture Fund (0683). The funds remained in GR and all revenue streams were redirected to the new account. Interest earned on the GR funds in 5002 is transferred to the account within the Tx. Ag. Fund (0683) at the end of each state fiscal year. The balance in GR was not transferred into the new Young Farmer Loan Guarantee Account in Tx. Ag. Fund (0683) and will be appropriated by the Legislature until the balance is depleted. Once all the funds have been appropriated, the account will be closed. Legal cite amended and Young Farmer Loan Guarantee program abolished under Subchapter E and recreated under Subchapter G as a grant program by S.B. 1016, 81st Leg., R.S.