This account is inactive. Please see the notes section for further information regarding the inactive status. Recently inactivated accounts may remain active in USAS for a period of time to complete outstanding transactions or for other accounting purposes.

Issue Date:
Revised Date: 2012-03-16

Legal Citations

Origin:

Purpose

Classification  
Depository Interest Deposited to General Revenue Fund 0001.
Disposition of Balance
Appropriation Technique

Administering Agencies

Financial Activity

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Note

Created 1971 under TEX. GOV'T CODE ANN. Sec 481.084. To receive monies appropriated, deposits of principal and interest on loans repaid for the purposes of making loans to promote the location of industrial enterprise in rural areas and earnings. (Balance from Texas Economic Development Commission Fund (0126) transferred to this fund effective 9-1-87.)

Name change from Rural Industrial Development Fund and interest retained in fund by H.B. 613, 71st Leg., R.S. (effective 9-1-89). Exempt from loss of dedication (§ 403.094, Government Code), by H.B. 3050, 74th Leg., R.S. S.B. 932, 75th Leg., R.S. abolished the Department of Commerce and created the Department of Economic Development. S.B. 266, 75th Leg., R.S. provided that the department may not guarantee or revoke a loan under this section after 8-31-97 and established the Capital Access Account 5035 for future loans. After loan guarantees and bonds are paid off, this account will become inactive. Texas Department of Economic Development repealed and duties transferred to the Economic Development and Tourism Office in the Governor's Office by S.B. 275, 78th Leg., R.S., effective 9-1-03.

USAS Values

USAS Title GR ACCT-RURAL ECONOMIC DEVELOPMENT
Consolidated Fund 0001
State Fund Group 01 - GENERAL STATE OPERATING & DISBURSING FDS
USAS Status I