Issue Date: 1989-11-30
Revised Date: 2020-05-21

Legal Cites

Origin:

1989 by H.B. 1111, H.J.R. 51, 71st Leg., R.S.

Purpose

The fund may, at the direction of the board, receive from state or federal government or from any other person, money that is to be administered by the authority in connection with the provision of the financial assistance to eligible agricultural business under any program funded in whole or part with the proceeds of general obligation bonds issued to carry out the purpose of this chapter. This fund contains an interest and sinking account and other accounts including the young farmer loan guarantee account (See Note).

Classification Group 02: Constitutional Funds Expendable for a Specific Purpose [?]
Depository Interest Retained in appropriated fund.
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

Appropriation for Fiscal 1990-91 vetoed by the Governor.

S.B. 716 and H.B. 3088 created the Young Farmer Loan Guarantee Account as an account in this fund effective 9-1-01.

Interest on the account and GR Account -- Young Farmer Loan Guarantee (5002) are transferred to the general credit of the Texas Agricultural Fund at the end of each state fiscal year.

Motor vehicle assessments collected under revenue code 3042 that were formerly deposits to GR Account -- Young Farmer Loan Guarantee (5002) are now deposited to the young farmer sub-account in this fund.

Young Farmer Loan Guarantee program abolished under subchapter E and recreated under subchapter G as a grant program by S.B. 1016, 81st Leg., R.S., which also creates the agricultural loan guarantee program within the agricultural fund.

USAS Values

USAS Title TEX AGRICULTURAL 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.