Issue Date: 2021-06-23
Revised Date:

Legal Cites


S.B. 1465 and H.B. 2896, 87th Leg., R.S.


A trust fund held outside the state treasury by the comptroller as trustee and administered by the Texas Economic Development Bank in the Governor’s Office.

The bank, the office, or the office's successor agency may provide for the issuance, sale, and retirement of bonds, including obligations in the form of commercial paper notes, to provide funding for economic development purposes as authorized by Section 52-a, Article III, Texas Constitution, and this subchapter.

The fund consists of proceeds from the issuance of bonds to provide funding for economic development purposes authorized by Section 52-a, Article III, Texas Constitution. Loan payments of principal and interest, origination fees, investment earnings are deposited to the fund.

The fund may be used only to make loans to economic development corporations (see Chapters 501, 504, and 505, Local Government Code). Amounts may be used to pay program administration costs, principal and interest on bonds issued under Section 489.253 and other costs incurred in administering the fund.

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

Administering Agencies


This program is similar to abolished program under 0851 – Texas Leverage Fund. See entry of 0851 for program history.

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.