This revenue object is inactive. Please see the notes section for further information regarding the inactive status. Recently inactivated objects may remain active in USAS for a period of time to complete outstanding transactions or for other accounting purposes.
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Legal Cites
Object Type
Cash — Agriculture
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Description
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Deposit Funds
Note
Created in 1979 by H.B. 304, S.J.R. 13, 66th Leg. under Agriculture Code §§ 252.002, 252.025 for repayments of farm and ranch loans to Department of Agriculture. If the family farm and ranch security loan had a term of not more than 20 years and provided for payments at least annually, an applicant could apply for a payment adjustment. Applicant was entitled to reimburse for payment adjustments in equal annual payments over a term up to 10 years. The borrower, the borrower's spouse, and their dependents would annually submit a sworn statement of their net worth. If their net worth in any year exceeded $150,000, the applicant was ineligible for a payment adjustment in that year. The obligation to repay a payment adjustment was a lien against the property. Repealed by S.B. 1413, 78th Leg., R.S., § 1(2) effective September 1, 2003.
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