Tex. Gov't Code Section 481.451
Definitions


In this subchapter:

(1)

“Community development financial institution” has the meaning assigned by 12 U.S.C. Section 4702.

(2)

“Declared disaster” means:

(A)

a declaration of a state of disaster under Section 418.014 (Declaration of State of Disaster) or 418.108 (Declaration of Local Disaster); or

(B)

a disaster declared by the president of the United States, if any part of this state is named in the federally designated disaster area.

(3)

“Default rate” means the percentage of micro-business disaster recovery loans made that did not meet the payment terms during a period specified by the bank.

(4)

“Fund” means the micro-business recovery fund established under Section 481.452 (Micro-business Recovery Fund).

(5)

“Micro-business” means a corporation, partnership, sole proprietorship, or other legal entity that:

(A)

is domiciled in this state and has at least 95 percent of its employees located in this state;

(B)

is formed to make a profit; and

(C)

employs not more than 20 employees.

(6)

“Micro-business disaster recovery loan” or “disaster recovery loan” means a loan made by a participating community development financial institution to micro-businesses under the program.

(7)

“Program” means the micro-business disaster recovery loan program established under this subchapter.
Added by Acts 2021, 87th Leg., R.S., Ch. 1004 (H.B. 3271), Sec. 1, eff. June 18, 2021.

Source: Section 481.451 — Definitions, https://statutes.­capitol.­texas.­gov/Docs/GV/htm/GV.­481.­htm#481.­451 (accessed Jun. 5, 2024).

481.001
Definitions
481.002
Office
481.003
Sunset Provision
481.005
Executive Director
481.008
Audit
481.009
Review of Bonds
481.010
Personnel
481.012
Public Interest Information and Complaints
481.021
General Powers of Office
481.022
General Duties of Office
481.023
Administration of Other Statutes
481.024
Texas Economic Development Corporation
481.025
Empowerment Zone and Enterprise Community Program
481.026
Technological Solutions
481.027
Foreign Offices
481.029
Cost Recovery
481.0042
Conflict of Interest
481.043
General Powers and Duties Relating to International Trade
481.0045
Negotiated Rulemaking and Alternative Dispute Resolution Policy
481.047
Confidentiality
481.0066
Aerospace and Aviation Office
481.0067
Small Business Advocate
481.0068
Office of Small Business Assistance
481.0069
Spaceport Trust Fund
481.072
Definitions
481.073
Powers and Duties Relating to Financing
481.075
Program Rules
481.078
Texas Enterprise Fund
481.079
Report on Use of Money in Texas Enterprise Fund
481.080
Economic and Fiscal Impact Statement for Certain Grant Proposals
481.121
Definitions
481.122
Creation
481.123
Duties
481.124
Comprehensive Permit Application Procedure
481.125
Comprehensive Permit Handbook
481.126
Assistance of Other State Agencies
481.127
Comprehensive Permit Information
481.128
No Charges for Services
481.129
Environmental Permits
481.166
Legislative Findings
481.167
Texas Business and Community Economic Development Clearinghouse
481.172
Duties
481.173
Name and Picture of Living State Official
481.174
Advertisements in Tourism Promotions
481.211
Powers and Duties
481.0211
Advisory Committees
481.212
Compilation and Distribution of Data and Research
481.0215
Coordination of Economic Development Efforts
481.0295
Identification of Industry Clusters
481.0296
Advanced Technology Industries
481.379
Design Committee
481.401
Definitions
481.403
Access to Capital Programs
481.406
Rulemaking Authority
481.411
Annual Report
481.412
Reports
481.413
State Liability Prohibited
481.414
Gifts and Grants
481.451
Definitions
481.452
Micro-business Recovery Fund
481.453
Powers of Bank in Administering Micro-business Recovery Fund
481.454
Establishment of Loan Program
481.455
Program Administration
481.456
Rulemaking
481.457
Oversight
481.501
Definitions
481.502
Financial Assistance
481.503
Memorandum of Understanding
481.504
Security for Loans
481.601
Definitions
481.602
Small Business Disaster Recovery Loan Program
481.603
Eligibility for Loan
481.604
Uses of Loan
481.605
Application for Loan
481.606
Small Business Disaster Recovery Revolving Fund
481.607
Management and Investment of Fund
481.608
Rules
481.609
Report
481.651
Definitions
481.652
Establishment
481.653
Composition of Consortium
481.654
Administrative Attachment
481.655
Executive Committee Composition
481.656
Duties of Executive Committee
481.657
Biennial Report
481.658
Texas Semiconductor Innovation Fund
481.00681
Office of Small Business Assistance Advisory Task Force
481.0725
General Powers and Duties

Accessed:
Jun. 5, 2024

§ 481.451’s source at texas​.gov