Texas § TN.56.003 - REVOLVING LOAN PROGRAM
Full text of Texas The Texas Constitution § TN.56.003 — REVOLVING LOAN PROGRAM, with citation guidance and answers to common questions.
§ TN.56.003. REVOLVING LOAN PROGRAM
REVOLVING LOAN PROGRAM. (a) The commission by rule shall establish a revolving loan program to use money from the fund to enhance the financing capabilities of entities responsible for the local share of qualified project costs by providing revenue or security for: (1) low-interest loans; (2) longer repayment terms for loans; and (3) flexible loan repayment terms, including: (A) loan structures similar to a line of credit; and (B) authorized prepayment of loans in advance of the loan's stated maturity date. (b) To be a qualified project, a project must: (1) deepen or widen a ship channel; (2) be authorized by the United States Congress; and (3) meet any other standards provided by commission rule. (c) A project for maintenance dredging is not a qualified project under this section. Added by Acts 2017, 85th Leg., R.S., Ch. 180 (S.B. 28 ), Sec. 4, eff. May 26, 2017. Amended by: Acts 2019, 86th Leg., R.S., Ch. 1310 (H.B. 3850 ), Sec. 2, eff. June 14, 2019.
Frequently Asked Questions About Texas § TN.56.003
What does The Texas Constitution § TN.56.003 cover?
Section TN.56.003 ("REVOLVING LOAN PROGRAM") 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 § TN.56.003?
A common citation format is "The Texas Constitution § TN.56.003" (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 § TN.56.003 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.