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A BILL TO BE ENTITLED
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AN ACT
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relating to the creation, operation, and funding of the urban farm |
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microenterprise support program. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Title 3, Agriculture Code, is amended by adding |
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Chapter 44A to read as follows: |
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CHAPTER 44A. URBAN FARM MICROENTERPRISE SUPPORT PROGRAM |
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Sec. 44A.001. DEFINITIONS. In this chapter: |
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(1) "Board" means the board of directors of the Texas |
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Agricultural Finance Authority. |
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(2) "Microenterprise" means a small business in which |
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the owner operates the enterprise. |
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(3) "Urban area" means an area inside the boundaries |
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of a municipality with a population of 500,000 or more. |
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Sec. 44A.002. CREATION OF URBAN FARM MICROENTERPRISE |
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SUPPORT PROGRAM. The board shall create an urban farm |
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microenterprise support program to provide financial assistance to |
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microenterprises in urban areas that are primarily engaged in: |
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(1) research into processes and technology related to |
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agricultural production in an urban setting; |
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(2) the production or development of tools or |
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processes for agriculture in a manner suited for an urban setting; |
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or |
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(3) agricultural activities in a manner suited for an |
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urban setting. |
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Sec. 44A.003. URBAN FARM MICROENTERPRISE SUPPORT PROGRAM |
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LOANS. (a) The board shall administer a loan program supporting |
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established and proposed urban farm microenterprises in urban areas |
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by providing loans to expand, modernize, or otherwise improve the |
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established microenterprises and to begin operation of proposed |
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microenterprises. |
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(b) An applicant applying on behalf of a proposed |
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microenterprise may receive a loan of up to $25,000 to begin |
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operation of the microenterprise. |
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(c) An applicant applying on behalf of an established |
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microenterprise may receive a loan of up to $50,000 to expand, |
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modernize, or otherwise improve an established operation. |
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(d) The board may reserve a portion of the total fund for use |
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in cooperative loan programs established with the participation of |
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other public or private lenders. |
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Sec. 44A.004. MONEY FOR LOANS. The board may accept gifts |
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and grants of money from the federal government, local governments, |
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or private corporations or other persons for use in making loans |
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under the urban farm microenterprise support program. The |
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legislature may appropriate money for loans under the program. |
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Sec. 44A.005. URBAN FARM MICROENTERPRISE DEVELOPMENT FUND. |
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The urban farm microenterprise development fund is a fund in the |
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comptroller's office. The following shall be deposited to the |
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credit of the fund: |
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(1) money appropriated to the board for use for the |
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urban farm microenterprise support program, including for making |
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loans under the program; |
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(2) other amounts received by the state for loans made |
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under the program; |
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(3) money received in repayment of loans made under |
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this chapter; and |
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(4) other money received by the board for the program |
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and required by the board to be deposited in the fund. |
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SECTION 2. This Act takes effect September 1, 2011. |