Issue Date: 2013-09-01
Revised Date: 2020-10-19

Legal Cites

Origin:

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

Purpose

Re-established as a revolving fund in the treasury composed of 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 project account, interest and sinking account and other authorized accounts. Used for administration and to provide financing to foster and stimulate development of small business 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

Note

Previously under Government Code sec. 481.242.

H.J.R. 51, 71st Leg., R.S., approved by the voters Nov. 7, 1989, added Texas Constitution art. XVI, § 71 authorizing the fund to receive revenue from loan repayments and make debt service payments on the authorized general obligation bonds issued. Amended by H.B. 1860, 71st Leg., R.S.

The fund was repealed by S.B. 932, 75th Leg., R.S. effective 9-1-97, but was recreated by S.B. 275, 78th Leg., R.S under Government Code sec.489.212.

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

USAS Values

USAS Title SMALL BUSINESS INCUBATOR 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.