| Issue Date: | 1989-11-30 |
|---|---|
| Revised Date: | 2020-05-21 |
Legal Cites
- Agriculture Code sec. 58.032
- Texas Constitution art. III sec. 49-i
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
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 |