Sec. 50E.002. TEXAS YOUTH LIVESTOCK SHOW FUND. (a) The Texas youth livestock show fund is an account in the general revenue fund administered by the office of the governor. Money in the account may be used only by the office of the governor to provide grants under Section 50E.001 and to promote and encourage donations to the fund. Not more than 10 percent of the money in the account may be used to promote and encourage donations to the fund.
(b) The Texas youth livestock show fund consists of:
(1) gifts, grants, including federal grants, and other donations received for the fund;
(2) interest earned on the investment of money in the fund;
(3) any money appropriated to the fund by the legislature; and
(4) money received from the federal government that may be used for a purpose described by Subsection (a) and that is transferred or deposited to the credit of the fund by the legislature.
(c) The office of the governor may accept grants, gifts, or donations from any source that are made for the purposes of this chapter. Money received under this subsection shall be deposited in the Texas youth livestock show fund.
Added by Acts 2021, 87th Leg., R.S., Ch. 422 (H.B. 3959), Sec. 1, eff. June 8, 2021.