Sec. 12.0273. LIMITATIONS ON LOANS AND GRANTS FROM TEXAS ECONOMIC DEVELOPMENT FUND. (a) The department may use money in the Texas economic development fund only to make loans and grants in the manner provided by this section for the purposes provided by Section 12.0272(b).
(b) The recipient of a grant using money from the fund must provide matching funds in an amount equal to 25 percent of the amount of the grant.
(c) The term of a loan made using money from the fund may not exceed 20 years. A loan must require monthly payments of principal and interest beginning not later than the 90th day after the date the loan is made.
(d) The department shall administer the fund as a perpetual source of financing for loans and grants under this section. The department shall use payments of principal and interest to make additional loans and grants.
(e) The cumulative amount of loans and grants to any person using money from the fund may not exceed $1 million.
(f) The department shall retain in the fund in the state treasury an amount of money equal to at least 25 percent of the amount of money in the fund on January 1, 2017.
(g) Not later than December 1 of each even-numbered year, the department shall submit a report on the status of the fund, including loans and grants made using money from the fund, to the governor, lieutenant governor, speaker of the house of representatives, and chairs of the house and senate committees with primary jurisdiction over the department.
Added by Acts 2017, 85th Leg., R.S., Ch. 459 (H.B. 2004), Sec. 2, eff. June 9, 2017.
Structure Texas Statutes
Title 2 - Department of Agriculture
Chapter 12 - Powers and Duties
Section 12.001. Execution of Laws
Section 12.0011. Authority to Enter Into Cooperative Agreements
Section 12.002. Development of Agriculture
Section 12.0025. Nutrition Programs
Section 12.0026. Interagency Farm-to-School Coordination Task Force
Section 12.0027. Nutrition Outreach Program
Section 12.0029. Summer Nutrition Programs
Section 12.003. Agricultural Societies
Section 12.006. Development of Domestic and Foreign Markets
Section 12.007. Plant Diseases and Pests
Section 12.010. Correspondence With Government Agencies and Others
Section 12.011. Agricultural Resource Statistics
Section 12.0135. Conflict Provisions
Section 12.0145. Submission of Proposed Fee Schedule
Section 12.015. Cooperation With Texas a & M University and Experiment Stations
Section 12.0175. "Go-Texan" Program
Section 12.0176. Cooperation With Certain Commodity Producers Boards
Section 12.0177. Texas Nursery and Floral Account
Section 12.020. Administrative Penalties
Section 12.0201. License Sanctions
Section 12.0202. Administrative Hearings
Section 12.0203. Negotiated Rulemaking and Alternative Dispute Resolution
Section 12.0204. Advisory Committees
Section 12.0205. Coordination of Consumer Protection Enforcement With Office of Attorney General
Section 12.021. Fee for Phytosanitation Inspection; Issuance of Certificate
Section 12.022. Authority to Solicit and Accept Gifts, Grants, and Donations
Section 12.023. Expiration of Registration or Licenses
Section 12.024. Late Renewal of License or Registration
Section 12.025. Program Accessibility Plan
Section 12.026. Public Interest Information
Section 12.0261. Administrative Procedure
Section 12.027. Economic Development Program
Section 12.0271. Rural Economic Development and Investment Program
Section 12.0272. Texas Economic Development Fund
Section 12.0273. Limitations on Loans and Grants From Texas Economic Development Fund
Section 12.028. Competitive Bidding or Advertising
Section 12.029. Minority and Female-Owned Business Contracts
Section 12.031. Advertising, Publications, and Fees
Section 12.032. Cooperation With State Office of Administrative Hearings
Section 12.033. Multiple Licenses
Section 12.034. Refund or Waiver of Fees
Section 12.035. Notice to Examinee
Section 12.036. Licensing Out-of-State Applicants
Section 12.037. Continuing Education
Section 12.038. Office of Rural Affairs
Section 12.039. Certain Wine Produced or Bottled in This State
Section 12.040. Texas Certified Retirement Community Program
Section 12.041. School Breakfast and Lunch Program
Section 12.042. Home-Delivered Meal Grant Program
Section 12.046. Texas Rural Investment Fund
Section 12.047. Use of Technology
Section 12.048. Obtaining Criminal History Record Information
Section 12.050. Trade Agricultural Inspection Grant Program
Section 12.051. Farmer Mental Health and Suicide Prevention Program