| TO: | Honorable Rick Hardcastle, Chair, House Committee on Agriculture & Livestock |
| FROM: | John S O'Brien, Director, Legislative Budget Board |
| IN RE: | HB2994 by Miles (Relating to the creation, operation, and funding of the urban farm microenterprise support program.), Committee Report 1st House, Substituted |
The bill would create the Urban Farm Microenterprise Support Program within the Texas Agricultural Finance Authority (TAFA) to provide financial assistance to microenterprises for farms in urban areas.
The bill would create the Urban Farm Microenterprise Support Program Loan within TAFA to support established and proposed urban farm microenterprises in urban areas by providing loans to expand, modernize, or otherwise improve the established microenterprises and to begin operation of proposed microenterprises. The loan would be up to $25,000 to begin a microenterprise operation and up to $50,000 to expand, modernize, or otherwise improve an established operation.
The bill would create the Urban Farm Microenterprise Development Fund.
The bill would prohibit the use of state money for the purpose of the program.
This analysis anticipates any additional work resulting from the passage of the bill could be reasonably absorbed within current resources.
The bill would take effect September 1, 2011.
| Source Agencies: |
| LBB Staff: | JOB, SZ, AH
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