Tex. Agric. Code Section 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 (Texas Economic Development Fund)(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.

Source: Section 12.0273 — Limitations on Loans and Grants from Texas Economic Development Fund, https://statutes.­capitol.­texas.­gov/Docs/AG/htm/AG.­12.­htm#12.­0273 (accessed Jun. 5, 2024).

12.001
Execution of Laws 12.002
Development of Agriculture 12.003
Agricultural Societies 12.006
Development of Domestic and Foreign Markets 12.007
Plant Diseases and Pests 12.010
Correspondence with Government Agencies and Others 12.0011
Authority to Enter into Cooperative Agreements 12.011
Agricultural Resource Statistics 12.0012
Notification 12.013
Employees 12.016
Rules 12.018
Testing 12.020
Administrative Penalties 12.021
Fee for Phytosanitation Inspection 12.022
Authority to Solicit and Accept Gifts, Grants, and Donations 12.023
Expiration of Registration or Licenses 12.024
Late Renewal of License or Registration 12.0025
Nutrition Programs 12.025
Program Accessibility Plan 12.0026
Interagency Farm-to-school Coordination Task Force 12.026
Public Interest Information 12.0027
Nutrition Outreach Program 12.027
Economic Development Program 12.0028
Limitation on Sanctions Imposed on School Districts for Sale of Foods of Minimal Nutritional Value 12.028
Competitive Bidding or Advertising 12.0029
Summer Nutrition Programs 12.029
Minority and Female-owned Business Contracts 12.031
Advertising, Publications, and Fees 12.032
Cooperation with State Office of Administrative Hearings 12.033
Multiple Licenses 12.034
Refund or Waiver of Fees 12.035
Notice to Examinee 12.036
Licensing Out-of-state Applicants 12.037
Continuing Education 12.038
Office of Rural Affairs 12.039
Certain Wine Produced or Bottled in This State 12.040
Texas Certified Retirement Community Program 12.041
School Breakfast and Lunch Program 12.042
Home-delivered Meal Grant Program 12.046
Texas Rural Investment Fund 12.047
Use of Technology 12.048
Obtaining Criminal History Record Information 12.050
Trade Agricultural Inspection Grant Program 12.051
Farmer Mental Health and Suicide Prevention Program 12.0135
Conflict Provisions 12.0144
Fee Schedule 12.0145
Submission of Proposed Fee Schedule 12.0176
Cooperation with Certain Commodity Producers Boards 12.0177
Texas Nursery and Floral Account 12.0201
License Sanctions 12.0202
Administrative Hearings 12.0203
Negotiated Rulemaking and Alternative Dispute Resolution 12.0204
Advisory Committees 12.0205
Coordination of Consumer Protection Enforcement with Office of Attorney General 12.0261
Administrative Procedure 12.0271
Rural Economic Development and Investment Program 12.0272
Texas Economic Development Fund 12.0273
Limitations on Loans and Grants from Texas Economic Development Fund 12.02601
Complaints
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Accessed:
Jun. 5, 2024

§ 12.0273’s source at texas​.gov