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.

Issue Date: 1997-09-01
Revised Date: 2015-08-25

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Cash — Other Revenue

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Deposit Funds


Created September 1, 1997 by S.B. 266, 75th Leg., R.S. under Government Code sec. 481.408, sec. 481.409, sec. 481.410. On approval by the office and after entering into a participation agreement, a financial institution making a capital access loan shall establish a reserve account. When financial institution makes a loan under this program, the institution the borrower pays a fee between 2% and 3% of the principal amount of the loan deposited to the reserve account. The institution deposits the fee. The office shall deposit designated amounts in the reserve fund upon certification. All money in a reserve account is property of the state. If the amount in the reserve account exceeds an amount equal to 33% of the balance of the institution's outstanding capital access loans, the office may withdraw the excess for Treasury deposit. This revenue code was never used by the agency. Texas Department of Economic Development repealed and duties transferred to the Economic Development and Tourism Office of the Governor's office by S.B. 275, 78th Leg., R.S., effective 9-1-03. S.B. 275 transferred the balance of GR Account 5035 - Capital Access to GR Account 5106 - Economic Development Bank and Account 5035 was deleted. Revenue object inactivated August 2015.

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