The bill would amend the Government Code, Chapter 481, Subchapter CC, to consolidate the Small Business Disaster Recovery and the Micro-Business Disaster Recovery loan programs. The bill would rename the General Revenue-Dedicated Account No. 5190 Micro-Business Recovery as the Small- and Micro- Business Recovery Account.
The bill would repeal Government Code, Chapter 481, Subchapter EE, relating to the Small Business Disaster Recovery Loan Program. Subchapter EE includes the Small Business Disaster Recovery Revolving Fund as a special fund outside the Treasury, held by the Texas Safekeeping Trust Company. According to the CPA, the fund has never received appropriations and was never created.
This analysis assumes there would be an indeterminate cost to provide loans for the consolidated program. The cost would be dependent on appropriations made for the program and applications received.
Note: This legislation would do one or more of the following: create or recreate a dedicated account in the General Revenue Fund, create or recreate a special or trust fund either in, with, or outside the Treasury, or create a dedicated revenue source. The fund, account, or revenue dedication included in this bill would be subject to funds consolidation review by the current Legislature.
No significant fiscal implication to units of local government is anticipated.