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House Bill 2994 |
House Author: Miles |
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Effective: 9-1-11 |
Senate Sponsor: Estes |
House Bill 2994 amends the Agriculture Code to require the board of directors of the Texas Agricultural Finance Authority to create an urban farm microenterprise support program to provide financial assistance to microenterprises in urban areas inside the boundaries of a municipality with a population of 500,000 or more that are primarily engaged in research into processes and technology related to agricultural production in an urban setting, the production or development of tools or processes for agriculture in a manner suited for an urban setting, or agricultural activities in a manner suited for an urban setting. The bill provides for the establishment and administration of the program and sets out guidelines relating to the issuance of loans under the program.
House Bill 2994 prohibits state money from being used for purposes of the urban farm microenterprise support program, but authorizes the board to accept certain gifts and grants of money for use in making loans under the program. The bill establishes the urban farm microenterprise development fund for the deposit of money relating to the program.