Sec. 489.302. MICRO-BUSINESS DISASTER RECOVERY FUND. (a) The micro-business disaster recovery fund is a dedicated account in the general revenue fund.
(b) The micro-business disaster recovery fund is composed of:
(1) money appropriated by the legislature for the implementation and administration of this subchapter;
(2) amounts received by the state from federal grants or other sources;
(3) interest earned on the investment of money in the micro-business disaster recovery fund;
(4) amounts transferred from the Texas economic development bank fund; and
(5) any other amounts received under this subchapter and required by the bank to be deposited in the micro-business disaster recovery fund.
(c) Money in the micro-business disaster recovery fund may be appropriated only to the bank for use in carrying out the purposes of this subchapter.
Added by Acts 2021, 87th Leg., R.S., Ch. 947 (S.B. 1465), Sec. 1, eff. June 18, 2021.
Structure Texas Statutes
Subtitle F - Commerce and Industrial Development
Chapter 489 - Texas Economic Development Bank
Subchapter F. Micro-Business Disaster Recovery Loan Guarantee Program
Section 489.302. Micro-Business Disaster Recovery Fund
Section 489.303. Powers of Bank in Administering Micro-Business Disaster Recovery Fund
Section 489.304. Micro-Business Disaster Recovery Loan Guarantee Program
Section 489.305. Rulemaking Authority
Section 489.306. Annual Report by Participating Financial Institution