Title GV, Government Code

Sec. 481.406. RULEMAKING AUTHORITY. (a) The executive director may adopt rules relating to the implementation of any program established under this subchapter and any other rules necessary to accomplish the purposes of this subchapter. (b) Repealed by Acts 2023, 88th Leg., R.S., …

Sec. 481.411. ANNUAL REPORT. A participating financial institution shall submit an annual report to the bank. The report must, at a minimum: (1) provide information regarding outstanding loans, loan losses, and any other information related to participation in a program establish…

Sec. 481.412. REPORTS; AUDITS. (a) Repealed by Acts 2023, 88th Leg., R.S., Ch. 690 (H.B. 1515), Sec. 16(4), eff. September 1, 2023. (b) The financial transactions of the fund are subject to audit by the state auditor as provided by Chapter 321. Added by Acts 1997, 75th Leg., ch. …

Sec. 481.413. STATE LIABILITY PROHIBITED. The state is not liable to a participating financial institution for payment of the principal, the interest, or any late charges on a capital access loan made under this subchapter. Added by Acts 1997, 75th Leg., ch. 1163, Sec. 1, eff. Se…

Sec. 481.414. GIFTS AND GRANTS. The bank may accept gifts, grants, and donations from any source for the purposes of this subchapter. Added by Acts 1997, 75th Leg., ch. 1163, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2003, 78th Leg., ch. 814, Sec. 1.62, eff. Sept. 1, 2003. SUBC…

Sec. 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 or 418.108; or (B) a disaster declare…

Sec. 481.452. MICRO-BUSINESS RECOVERY FUND. (a) The micro-business recovery fund is a dedicated account in the general revenue fund. (b) Appropriations for the implementation and administration of this subchapter and any other amounts, including federal allocations, received by t…

Sec. 481.453. POWERS OF BANK IN ADMINISTERING MICRO-BUSINESS RECOVERY FUND. In administering the fund, the bank has the powers necessary to carry out the purposes of this subchapter, including the power to: (1) make, execute, and deliver contracts, conveyances, and other instrume…

Sec. 481.454. ESTABLISHMENT OF LOAN PROGRAM; PURPOSE. (a) The bank shall establish and administer a revolving loan program as provided by this subchapter. (b) The program shall expand access to capital for qualifying micro-businesses to create jobs in this state and constitutes a…

Sec. 481.455. PROGRAM ADMINISTRATION. (a) The bank, under the program, shall provide zero interest loans to eligible community development financial institutions for purposes of making interest-bearing loans to qualifying micro-businesses that have difficulty in accessing capital…

Sec. 481.456. RULEMAKING. The executive director shall adopt rules relating to the implementation of the program and any other rules necessary to accomplish the purposes of this subchapter, including rules that provide criteria under which community development financial institut…

Sec. 481.457. OVERSIGHT. (a) A community development financial institution participating in the program shall report quarterly to the bank: (1) the names of micro-businesses that have received a disaster recovery loan; (2) the current balance of all outstanding disaster recovery …

Sec. 481.501. DEFINITIONS. In this subchapter: (1) "Defense base" means a federally owned or operated military installation, facility, or mission that is functioning on June 1, 2003. (2) "Defense community" means a political subdivision, including a municipality, county, defense …

Sec. 481.502. FINANCIAL ASSISTANCE. (a) The office and the Texas Military Preparedness Commission shall assist defense communities in obtaining financing for economic development projects that seek to address future realignment or closure of a defense base that is in, adjacent to…

Sec. 481.503. MEMORANDUM OF UNDERSTANDING. The office shall enter into a memorandum of understanding with each state agency that has a program to fund economic development projects for defense communities. The memorandum of understanding shall include each agency's responsibiliti…

Sec. 481.504. SECURITY FOR LOANS. In addition to any other security provided by law, if a defense community defaults on a loan, a state agency making a loan to the defense community for a project described by Section 481.502(a) may foreclose under a loan agreement in the manner p…

Sec. 481.601. DEFINITIONS. In this subchapter: (1) "Disaster declaration" means a declaration by the governor of a state of disaster under Section 418.014. (2) "Fund" means the small business disaster recovery revolving fund created under Section 481.606. (3) "Small business" has…

Sec. 481.602. SMALL BUSINESS DISASTER RECOVERY LOAN PROGRAM. (a) The office by rule shall establish a loan program to use money from the fund established under this subchapter to provide financial assistance to small businesses affected by a disaster. (b) The office may provide f…

Sec. 481.603. ELIGIBILITY FOR LOAN. The office by rule shall establish the eligibility requirements for a loan to a small business under this subchapter. The requirements must include that the small business: (1) is in good standing under the laws of this state; (2) does not owe …

Sec. 481.604. USES OF LOAN. An eligible small business may only use a loan received under this subchapter to pay the small business's payroll costs, including costs related to the continuation of health care benefits for the small business's employees. Added by Acts 2021, 87th Le…

Sec. 481.605. APPLICATION FOR LOAN. The office shall develop and implement an application process for an eligible small business to receive a loan under this subchapter. Added by Acts 2021, 87th Leg., R.S., Ch. 847 (S.B. 678), Sec. 1, eff. September 1, 2021. Redesignated from Gov…

Sec. 481.606. SMALL BUSINESS DISASTER RECOVERY REVOLVING FUND. (a) The small business disaster recovery revolving fund is a special fund outside the state treasury to be used by the office, without further legislative appropriation, for the purpose of providing financial assistan…

Sec. 481.607. MANAGEMENT AND INVESTMENT OF FUND. (a) The trust company shall hold and invest the fund, and any accounts established in the fund, for and in the name of the office, taking into account the purposes for which money in the fund may be used. The fund may be co-investe…

Sec. 481.608. RULES. The office shall adopt rules necessary to implement this subchapter. Added by Acts 2021, 87th Leg., R.S., Ch. 847 (S.B. 678), Sec. 1, eff. September 1, 2021. Redesignated from Government Code, Subchapter CC, Chapter 481 by Acts 2023, 88th Leg., R.S., Ch. 768 …

Sec. 481.651. DEFINITIONS. In this subchapter: (1) "Consortium" means the Texas Semiconductor Innovation Consortium. (2) "Executive committee" means the executive committee of the consortium. (3) "Fund" means the Texas Semiconductor Innovation Fund. (4) "Institution of higher edu…

Sec. 481.652. ESTABLISHMENT; PURPOSES. (a) The Texas Semiconductor Innovation Consortium is established as an advisory panel to the governor and the legislature. (b) The purposes of the consortium are to: (1) leverage the expertise and capacity of institutions of higher education…

Sec. 481.653. COMPOSITION OF CONSORTIUM. (a) The consortium is composed of a designee of each of the following institutions of higher education appointed by the office of the president of the institution: (1) The University of Texas at Arlington; (2) The University of Texas at Au…

Sec. 481.654. ADMINISTRATIVE ATTACHMENT. (a) The consortium is administratively attached to the office of the governor. (b) The office shall hire or otherwise provide the staff and provide the facilities necessary to assist the consortium in performing the consortium's duties und…

Sec. 481.655. EXECUTIVE COMMITTEE COMPOSITION. (a) The consortium is governed by an executive committee composed of the following members: (1) three members appointed by the governor; (2) two members appointed by the lieutenant governor; (3) two members appointed by the speaker o…

Sec. 481.656. DUTIES OF EXECUTIVE COMMITTEE. (a) The executive committee shall: (1) advise and provide input to the office regarding the comprehensive statewide strategic plan to further the purposes of: (A) the consortium as established under Section 481.652; and (B) the executi…

Sec. 481.6565. STRATEGIC PLAN. The office shall develop a strategic plan for the promotion of the semiconductor economy in this state. Added by Acts 2025, 89th Leg., R.S., Ch. 468 (H.B. 4850), Sec. 7, eff. September 1, 2025.

Sec. 481.657. BIENNIAL REPORT. Not later than December 1 of each even-numbered year, the office shall prepare and submit to the governor and the Legislative Budget Board a written report that outlines: (1) activities undertaken to meet the purposes of the consortium under Section…

Sec. 481.658. TEXAS SEMICONDUCTOR INNOVATION FUND. (a) The Texas Semiconductor Innovation Fund is created as a dedicated account within the general revenue fund. The fund consists of: (1) gifts, grants, or donations to the fund; and (2) money from any other source designated by t…

Sec. 481.681. DEFINITIONS. In this subchapter: (1) "Advisory committee" means the advisory committee of the initiative. (2) "Initiative" means the Texas Quantum Initiative. (3) "Institution of higher education" has the meaning assigned by Section 61.003, Education Code. Added by …

Sec. 481.682. ESTABLISHMENT; PURPOSES. (a) The Texas Quantum Initiative is a program established within the office to: (1) establish and advance this state's position as a national leader in the quantum industry; and (2) accelerate the integration of quantum computing, networking…

Sec. 481.683. ADVISORY COMMITTEE COMPOSITION. (a) The initiative is advised by an advisory committee composed of six members appointed by the governor. (b) In making appointments under Subsection (a), priority shall be given to individuals from the quantum design and manufacturin…

Sec. 481.684. DIRECTOR; STAFF. The office shall hire a director. The director shall hire and direct staff to assist the initiative in performing the initiative's duties under this subchapter. Added by Acts 2025, 89th Leg., R.S., Ch. 1111 (H.B. 4751), Sec. 1, eff. September 1, 202…

Sec. 481.685. DUTIES OF ADVISORY COMMITTEE. The advisory committee shall: (1) advise and provide input to the office regarding the comprehensive strategic plan described by Section 481.686; (2) solicit recommendations from institutions of higher education, initiative members, and…

Sec. 481.686. STRATEGIC PLAN. (a) The office shall, in collaboration with the initiative, develop a strategic plan for the promotion of the quantum economy in this state. The plan must include: (1) a list of potential projects that further the goals of the initiative; (2) a list …

Sec. 481.687. BIENNIAL REPORT. Not later than December 1 of each even-numbered year, the office shall prepare and submit to the Legislative Budget Board a written report that outlines: (1) activities undertaken to meet the purposes of the initiative under Section 481.682; (2) a s…

Sec. 481.688. QUANTUM UNIVERSITY AND BUSINESS INNOVATION FOR TEXAS FUND. (a) In this section, "fund" means the Quantum University and Business Innovation for Texas Fund created by this section. (b) The Quantum University and Business Innovation for Texas Fund is created as a dedi…

Sec. 481.701. DEFINITION. In this subchapter, "task force" means the Task Force on Modernizing Manufacturing. Added by Acts 2025, 89th Leg., R.S., Ch. 239 (S.B. 2925), Sec. 1, eff. September 1, 2025.

Sec. 481.702. CREATION OF TASK FORCE; COMPOSITION. (a) The Task Force on Modernizing Manufacturing is established to study the modernization of manufacturing in this state. (b) The task force is composed of 15 members, consisting of: (1) the executive director of the office or th…

Sec. 481.703. DUTIES OF TASK FORCE. (a) The task force shall: (1) study the current state of manufacturing in this state, with a focus on the adoption of automation and digital technologies; (2) identify barriers to the adoption of automation and digital technologies in manufactu…

Sec. 481.704. ADMINISTRATIVE SUPPORT. The office shall provide the staff and facilities necessary to assist the task force in performing the task force's duties under this subchapter. Added by Acts 2025, 89th Leg., R.S., Ch. 239 (S.B. 2925), Sec. 1, eff. September 1, 2025.

Sec. 481.705. REPORT. Not later than October 1, 2026, the task force shall prepare and deliver to the governor, the lieutenant governor, the speaker of the house of representatives, and each standing committee of the legislature with primary jurisdiction over economic development…