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Depository Interest
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Note

Created by TEX. GOV'T CODE ANN. §§ 481.021(c), 481.0725, 481.073 in 1992 to hold receipts from notes, bonds and other evidences of indebtedness and other authorized revenues for use in programs related to business development under this Chapter. General Revenue was not used to support this fund. Administered by Governor -- Fiscal, Agency 300 (formerly the Texas Department of Economic Development, Agency 480). The fund was originally established as the Texas Economic Development Program Bond Fund pursuant to § 481.056 for receipts from bond issues related to world trade programs. This program was never financed, however the leverage program bonds were issued in support of business development programs and deposited into this fund.

Statutes creating the original Economic Development Program Bond Fund were repealed by S.B. 932, 75th Leg., R.S., effective September 1, 1997.

Since the leverage program utilized this fund number for several years, the name and legal cite were changed to correctly identify the program being operated from the fund.

Texas Department of Economic Development was repealed and duties transferred to the Economic Development and Tourism office in the Governor's office and the balances in this fund were transferred to GR Account -- Economic Development Bank (No. 5106). by S.B. 275, 78th Leg., R.S., effective 9-1-03.

USAS Values

USAS Title
Consolidated Fund
State Fund Group
USAS Status