Texas § GV.489.211 - TEXAS PRODUCT DEVELOPMENT FUND
Full text of Texas The Texas Constitution § GV.489.211 — TEXAS PRODUCT DEVELOPMENT FUND, with citation guidance and answers to common questions.
§ GV.489.211. TEXAS PRODUCT DEVELOPMENT FUND
TEXAS PRODUCT DEVELOPMENT FUND. (a) The Texas product development fund is a fund in the state treasury. (b) The product fund is composed of proceeds of bonds issued under this subchapter, financing application fees, loan repayments, guarantee fees, royalty receipts, dividend income, money appropriated by the legislature for authorized purposes of the product fund, amounts received by the state from loans, loan guarantees, and equity investments made under this subchapter, amounts received by the state from federal grants or other sources, and any other amounts received under this subchapter and required by the bank to be deposited in the product fund. The product fund contains a program account, an interest and sinking account, and other accounts that the bank authorizes to be created and maintained. Money in the product fund is available for use by the bank under this subchapter. Investment earnings under the product fund must be transferred to the fund created under Section 489.105 . Notwithstanding any other provision of this subchapter, any money in the product fund may be used for debt service, bond redemption, or any costs associated with debt service or bond redemption. (c) Repealed by Acts 2023, 88th Leg., R.S., Ch. 690 (H.B. 1515 ), Sec. 16(5), eff. September 1, 2023. Added by Acts 2003, 78th Leg., ch. 814, Sec. 2.01, eff. Sept. 1, 2003. Amended by: Acts 2013, 83rd Leg., R.S., Ch. 1092 (H.B. 3578 ), Sec. 2, eff. September 1, 2013. Acts 2021, 87th Leg., R.S., Ch. 1004 (H.B. 3271 ), Sec. 19, eff. June 18, 2021. Acts 2023, 88th Leg., R.S., Ch. 690 (H.B. 1515 ), Sec. 10, eff. September 1, 2023. Acts 2023, 88th Leg., R.S., Ch. 690 (H.B. 1515 ), Sec. 16(5), eff. September 1, 2023.
Frequently Asked Questions About Texas § GV.489.211
What does The Texas Constitution § GV.489.211 cover?
Section GV.489.211 ("TEXAS PRODUCT DEVELOPMENT FUND") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § GV.489.211?
A common citation format is "The Texas Constitution § GV.489.211" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § GV.489.211 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.