Purpose
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.)
| Classification | Group 01: General State Operating and Disbursing Funds [?] |
|---|---|
| Depository Interest | Retained in account |
| Disposition of Balance | Accumulative |
| Appropriation Technique | General Appropriations Act |
Administering Agencies
- 300 – Governor - Fiscal (formerly the Texas Department of Economic Development, Agency 480, formerly by the Texas Department of Commerce, Agency 465)
Note
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 Texas Department of Economic Development repealed and duties transferred to the Economic Development and Tourism Office in the Governor's Office by S.B. 275, 78th Leg., R.S., effective 9-1-03.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 |
Used to make general expenditures for the daily operations of state government.