Issue Date: 2013-09-01
Revised Date:

Legal Citations

Origin:

2003 by S.B. 275 and H.B. 3318, 78th Leg., R.S.

Purpose

Re-established as a revolving fund in the treasury from bond proceeds, application fees, loan repayments, guarantee fees, royalties, dividend income, appropriations, federal grants and any other authorized sources. Includes capital access program amounts transferred from the Economic Development Bank (GR Account 5106). The fund contains a program account, an interest and sinking account and other authorized accounts. Used for administration and to provide financing to aid in the development and production of new or improved products in this state.
Classification Group 02: Constitutional Funds Expendable for a Specific Purpose [?]
Depository Interest Credited to GR Account -- Economic Development Bank (5106)
Disposition of Balance Accumulative
Appropriation Technique General Appropriations Act

Administering Agencies

Financial Activity

To view this appropriated fund's current revenue and expenditure activity by agency or comptroller object code, visit the following links:

Note

Effective in 1987 by TEX. CONST. art. XVI, § 71; TEX. GOV'T CODE ANN. art. 481.22 to receive bond proceeds, loan repayments, guarantee fees, royalty receipts, dividend income and other amounts received from loans, loan guarantees and equity investments made under the Development of Products article, plus money acquired from federal grants or other sources, and required by resolution of the board to be deposited in the fund.

The fund was originally repealed by S.B. 932, 75th Leg., R.S. effective 9-1-97, but was recreated by S.B. 275, 78th Leg., R.S.

H.B. 3578, 83rd Leg., R.S. added transfers from GR Account 5106.

USAS Values

USAS Title TEXAS PRODUCT DEVELOPMENT FUND
Consolidated Fund
State Fund Group 02 - CONSTITUTIONAL FDS EXP FOR SPECIFIC PURP
USAS Status A
Created by the state's constitution or receiving constitutionally dedicated revenue and expended for a specific purpose.