Issue Date: 2014-01-01
Revised Date:

Legal Cites


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


A trust fund outside the treasury with the comptroller consisting of gifts, grants, donations or any other source designated by the legislature. May be used only to pay expenditures for the development of infrastructure necessary or useful for establishing a spaceport.

Before funds are spent the Governor's Office must certify to the Comptroller that:

(1) a viable business entity has been established with an appropriate business plan and has committed to locating its spaceport facilities in Texas;
(2) a development corporation for spaceport facilities has a development plan and secured 90 percent of the required project funding; and
(3) the spaceport has obtained the appropriate Federal Aviation Administration license.

Classification Group 13: Local Trust [?]
Depository Interest Retained in fund.
Disposition of Balance Accumulative
Appropriation Technique Not available for appropriation.

Administering Agencies


USAS Values

Consolidated Fund
State Fund Group 13 - LOCAL TRUST
USAS Status A
Funds held outside the state treasury in a trustee capacity for individuals, private organizations or other governmental entities. Includes assets belonging to individuals and other entities held temporarily in a custodial capacity.