Issue Date: 2013-06-14
Revised Date: 2017-06-16

Legal Cites

Origin:

S.B. 1214 and H.B. 6, 83rd Leg., R.S.

Purpose

The fund consists of all interest, income, and revenue associated with the federal State Small Business Credit Initiative Act of 2010 (12 U.S.C. Section 5701). Other deposits to the fund include gifts, loans, donations, aid, appropriations, guaranties, allocations, subsidies, grants, or contributions. Interest and earned income is retained in the fund. Cumulative grants to any one person may not exceed $1 million.

Money in the fund may be appropriated only to the department for the department's economic development programs. At least 25% of the amount in the fund, as of January 1, 2017, must be retained in the fund.

Classification Group 01: General State Operating and Disbursing Funds [?]
Depository Interest Retained in fund.
Disposition of Balance Accumulative
Appropriation Technique General Appropriations Act

Administering Agencies

Note

New fund uses and grant requirements added by H.B. 2004, 85th Leg., R.S.

USAS Values

USAS Title TX ECONOMIC DEVELOPMENT FUND
Consolidated Fund
State Fund Group 01 - GENERAL STATE OPERATING & DISBURSING FDS
USAS Status A
Used to make general expenditures for the daily operations of state government.