reglab/statecodes huggingface dataset:
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 28 - TEXAS AGRICULTURAL FINANCE AUTHORITY › Subchapter G - RURAL ECONOMIC DEVELOPMENT FINANCE PROGRAM › Section 28.75 - Applicant and Minimum Project Eligibility Requirements

Current
				  through Reg. 49, No. 28; July 12, 2024
(a) Applicant. An applicant is eligible for a
				  loan from the Authority if it meets the following criteria:
(1) The applicant is a legal entity under the
				  laws of the United States of America and the State of Texas;
(2) The applicant has a principal place of
				  business in the state;
(3) The
				  applicant is an eligible entity pursuant to §§ 28.73 or 28.74 of this
				  subchapter (relating to Texas Rural Community Loan and Agriculture and
				  Community Economic Development Loan);
(4) The applicant submits an eligible
				  application to the Authority;
(5)
				  If applicable, the lender submits required documentation to the
				  Authority;
(6) The applicant is not
				  considered an ineligible person as defined by § 28.87 of this subchapter
				  (relating to Ineligible Persons);
(7) The applicant has complied with state law
				  and Authority rules; and
(8) The
				  applicant meets the criteria and guidelines in the Authority's credit
				  policy.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 28 - TEXAS AGRICULTURAL FINANCE AUTHORITY › Subchapter G - RURAL ECONOMIC DEVELOPMENT FINANCE PROGRAM › Section 28.76 - Application Filing Requirements and Application Review Processes

Current through Reg. 49, No. 28; July 12, 2024
(a) Application forms. An applicant or
				  participating lender seeking a commitment from the Authority must use the
				  application forms provided by the Authority and the Department.
(b) Submission of a qualified application.
				  Applicants are required to submit the application material to Department staff
				  for presentation to the board.
(c)
				  Staff Review. Staff will review all applications per evaluation criteria
				  included in § 28.77 of this subchapter (relating to Evaluation
				  Criteria).
(d) Board review. Staff
				  will submit a report and recommendation on each qualified application to the
				  board as defined by the Credit Policy and Procedures. The board may, in its
				  discretion, recommend the imposition of additional conditions and requirements
				  in the approval of an eligible application.
(e) Notification of approval. Upon
				  conditional approval of the qualified application by the board, staff will
				  notify the applicant or lender in writing identifying the terms and conditions
				  of the commitment provided.
(f)
				  Denial of eligible application. If the eligible application is denied by the
				  board, staff will notify the applicant in writing identifying the reasons for
				  denial. Applicants who have been denied may re-apply to the program.
(g) Reporting to the board. Staff shall
				  report to the board at each board meeting the status of all outstanding
				  loans.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 28 - TEXAS AGRICULTURAL FINANCE AUTHORITY › Subchapter G - RURAL ECONOMIC DEVELOPMENT FINANCE PROGRAM › Section 28.77 - Evaluation Criteria

Current through Reg. 49, No. 28; July 12,
				  2024
In evaluating applications for financial assistance under
					 this subchapter, the board and staff shall consider at minimum:
(1) The anticipated benefits arising from the
				  financial assistance to the applicant, including both the potential impact on
				  agricultural development and rural economic development;
(2) The qualifications and eligibility of the
				  applicant;
(3) The applicant's
				  ability to repay the financial obligation;
(4) The demonstrated level of need for the
				  Authority's financial assistance;
(5) The funding needed for continued
				  development;
(6) The collateral
				  offered by the applicant; and
(7)
				  The present involvement and support of local organizations.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 28 - TEXAS AGRICULTURAL FINANCE AUTHORITY › Subchapter G - RURAL ECONOMIC DEVELOPMENT FINANCE PROGRAM › Section 28.78 - Contents of Eligible Application

Current through Reg. 49, No.
				  28; July 12, 2024
Required information. The eligible application must set
					 forth the information necessary for the determination to provide a commitment
					 by the Authority or the Authority's designee and will include all that is
					 outlined and required in the application and at minimum:
(1) Applicant's name, address, email and
				  telephone number;
(2) Applicant's
				  representative;
(3) Lender's name,
				  address, email and telephone number, if applicable;
(4) Applicant's ownership structure and names
				  of key management, principals, board members, principal investors and
				  percentage of ownership, if applicable;
(5) Detailed statement of project benefit
				  and/or economic impact;
(6)
				  Articles of incorporation and bylaws, or other founding documents, certificate
				  of good standing with the secretary of state, or other instruments that
				  establish or describe the legal operation or structure of the applicant and/or
				  the benefitting business, if applicable; and
(7) Copies of Internal Revenue Service
				  applications and approvals for non-profit status, if applicable.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 28 - TEXAS AGRICULTURAL FINANCE AUTHORITY › Subchapter G - RURAL ECONOMIC DEVELOPMENT FINANCE PROGRAM › Section 28.79 - General Criteria for Approval of Financial Assistance

Current
				  through Reg. 49, No. 28; July 12, 2024
(a) Capital contribution. The Authority shall
				  also consider the applicant's equity contribution in the project and whether
				  the applicant has secured additional financial assistance.
(b) Reasonable risk. There must be reasonable
				  assurance, in the judgment of the Authority, that the commitment provided can
				  and will be repaid according to its terms. In making this judgment the
				  Authority may consider the following:
(1)
				  Evidence of the manner, means, and security of payment by the
				  applicant;
(2) Projected cash flow
				  of the applicant;
(3) Firm
				  commitments from other independent and responsible financial sources for all
				  other funds in excess of the Authority's commitment;
(4) Collateral and other sources of
				  guarantees or insurance securing the Authority's commitment;
(5) Credit history and financial condition of
				  the applicant;
(6) Historical
				  financial information of applicant;
(7) The applicant's management; and
(8) Eligibility of lender, if applicable. The
				  lender originating an application for the program must have a continuing
				  ability to evaluate, perform and service the loan; and make the necessary
				  reports as identified in the rules of the program. The lender must agree to
				  exercise due diligence in the servicing, maintenance, review and evaluation of
				  performance without regard to the existence of participation by the Authority
				  or any other limitation of risk. The Authority reserves the right to refuse to
				  enter into an agreement with lenders which, in the judgment of the Authority,
				  do not have the ability to appropriately make and service the loan.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 28 - TEXAS AGRICULTURAL FINANCE AUTHORITY › Subchapter G - RURAL ECONOMIC DEVELOPMENT FINANCE PROGRAM › Section 28.80 - General Terms and Conditions of the Authority's Commitment

Current through Reg. 49, No. 28; July 12, 2024
(a) Permissible use of the commitment. The
				  commitment is to be used to finance the project or purpose identified in the
				  approved application.
(b) Interest.
				  The interest rate shall be the rate approved by the Authority and/or lender, if
				  applicable.
(c) Fees. The Authority
				  may approve fees, as it deems appropriate, on a case-by-case basis. An
				  application fee may be required at the time of application.
(d) Security. Loans must be secured by
				  collateral of a type, amount, and value which, when considered with other
				  criteria, ensures the full repayment of the financial assistance and the
				  solvency of the Program.
(e)
				  Maturity. The maturity of the commitment may not exceed thirty years, or the
				  useful life of the collateral, whichever is less. The maturity shall be
				  negotiated between the Authority, applicant, and participating lender, if
				  applicable. For commitments secured by revenues, including sales tax, the
				  amortization period is determined by the Debt Service Coverage Ratio and with
				  consideration given to prior volatility in tax/revenue collections. Financing
				  terms are set forth in the Credit Policy and Procedures.
(f) Reporting requirements to the Authority
				  for a commitment provided by the Authority may include:
(1) Annual financial audit, and annual
				  employment information, when applicable;
(2) Quarterly reports summarizing project
				  status and any anticipated challenges in a format provided by the Authority;
				  and
(3) If necessary, the Authority
				  may request other reports or documentation reasonably necessary for an
				  assessment of the recipient's compliance with the program.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 28 - TEXAS AGRICULTURAL FINANCE AUTHORITY › Subchapter G - RURAL ECONOMIC DEVELOPMENT FINANCE PROGRAM › Section 28.83 - Collateral Administration

Current through Reg. 49, No. 28; July
				  12, 2024
(a) Except as
				  otherwise provided by state law, by these rules or by resolution of the board,
				  the staff, with approval of the commissioner of agriculture, the deputy
				  commissioner of agriculture, or the official of the department designated by
				  the commissioner of agriculture, shall have the authority to act on behalf of
				  the Authority, without specific board approval, in regard to the collection,
				  settlement and enforcement of each and every commitment under the program. Such
				  authority shall include, without limitation, the actions required to be taken
				  by the Authority under any loan agreement, any participation agreement and any
				  other agreement entered into by the Authority concerning commitments provided
				  by the Authority.
(b) The Authority
				  shall make efforts to perfect and preserve any security interest in collateral
				  or other security pledge, and exercise any and all remedies available in the
				  event of a default including possession, repossession and liquidation as
				  appropriate to recover losses and other costs, including any attorneys' fees
				  and court costs.
(c) Nothing in
				  this section shall prevent the staff or the commissioner of agriculture, the
				  deputy commissioner of agriculture, or the official of the department
				  designated by the commissioner of agriculture from submitting any matter to the
				  board for its consideration and approval.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 28 - TEXAS AGRICULTURAL FINANCE AUTHORITY › Subchapter G - RURAL ECONOMIC DEVELOPMENT FINANCE PROGRAM › Section 28.84 - Default by Recipient

Current through Reg. 49, No. 28; July 12,
				  2024
A recipient may be declared in default if one or more of
					 the following conditions exists as determined by the Authority and/or lender,
					 whichever is applicable, and any other reasons that may be identified in the
					 closing documents of the loan:
(1) The
				  recipient does not pay a scheduled principal or interest payment;
(2) The recipient fails to comply with any
				  condition, covenant, obligation, provision, requirement, or term of the note,
				  loan agreement, or instrument securing the loan;
(3) The recipient fails personally to
				  complete the project as described in the application;
(4) The recipient fails to provide the lender
				  with financial statements and any other documents as required by these rules;
				  or
(5) The recipient fails to meet
				  the project goals defined in the application.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 28 - TEXAS AGRICULTURAL FINANCE AUTHORITY › Subchapter G - RURAL ECONOMIC DEVELOPMENT FINANCE PROGRAM › Section 28.85 - Default Procedures

Current through Reg. 49, No. 28; July 12,
				  2024
The Authority will define default procedures in the Credit
					 Policy and Procedures.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 28 - TEXAS AGRICULTURAL FINANCE AUTHORITY › Subchapter G - RURAL ECONOMIC DEVELOPMENT FINANCE PROGRAM › Section 28.86 - Prohibited Commitments

Current through Reg. 49, No. 28; July 12,
				  2024
Prohibited commitments under the Rural Economic Development
					 Finance Program include the following:
(1) Commitments for lobbying activities, as
				  such activities are defined under state or federal law;
(2) Commitments involving the acquisition or
				  holding of passive investments, such as commercial real estate
				  ownership;
(3) Commitments for the
				  repayment of delinquent federal or state income taxes;
(4) Commitments for the repayment of payroll
				  or sales taxes, or other taxes required to be held in trust or
				  escrow;
(5) Commitments that are,
				  or are made in a manner that is, prohibited by federal or state laws that
				  pertain to the investment of public money; and
(6) Commitments to an entity that a member of
				  the Authority may have an interest in or a commitment to an entity that could
				  present a conflict of interest. A conflict of interest occurs when a person
				  serves or represents two distinct entities and must choose between two
				  conflicting interests or loyalties. Generally, when an individual's official
				  duties clash with the individual's personal interests, a conflict of interest
				  may occur. Examples include nepotism, personal or professional relationships,
				  direct or indirect financial interests, or business or professional activity,
				  including incurring an obligation or receiving a benefit of any nature, that is
				  in substantial conflict with the proper discharge of the officer or employee's
				  duties in the public interest.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 29 - ECONOMIC DEVELOPMENT › Subchapter B - RURAL ECONOMIC DEVELOPMENT CAPITAL FOR TEXAS PROGRAM › Section 29.20 - Purpose

Current through Reg. 49, No. 28; July 12, 2024
(a) The Capital for Texas Program was
				  established effective January 20, 2016, using part of the funds allocated to
				  the Department through the U.S. Department of the Treasury's (Treasury) State
				  Small Business Credit Initiative (SSBCI) program, to provide funding to
				  Community Development Financial Institutions (CDFIs) in support of small
				  business lending in rural communities of this State.
(b) The Department's Allocation Agreement
				  with the Treasury expired on March 31, 2017, while the authority and duty of
				  the Treasury to administer the SSBCI program terminated on September 27, 2017.
				  However, the SSBCI Act, Policy Guidelines, Compliance Standards and Allocation
				  Agreement continue to apply to the first use of funds from the allocation made
				  to the Department.
(c) The SSBCI
				  Act, Policy Guidelines, Compliance Standards and Allocation Agreement do not
				  apply to the recycling of SSBCI funds by the Department, or by a participating
				  venture capital firm on behalf of the Department, after March 31,
				  2017.
(d) The purpose of these
				  rules is to establish regulations for the Rural Economic Development Capital
				  for Texas (RED C4T) Program to continue the Department's small business lending
				  and investment programs using recycled SSBCI funds generated from SSBCI loan
				  repayments and returns on SSBCI investments received or realized by the
				  Department as a result of loans and investments made under the Capital for
				  Texas and Jobs for Texas (J4T) Programs, as well as other state funding from
				  the Texas Economic Development Fund.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 29 - ECONOMIC DEVELOPMENT › Subchapter B - RURAL ECONOMIC DEVELOPMENT CAPITAL FOR TEXAS PROGRAM › Section 29.21 - Authority

Current through Reg. 49, No. 28; July 12, 2024
The Department's authority to establish, implement, and
					 administer the RED C4T Program derives from Section
					 RSA 12.0272 of the
					 Texas Agriculture Code, which establishes the Texas Economic Development Fund
					 which is appropriated to the Department for the purpose of administering,
					 establishing, implementing, or maintaining one or more of the Department's
					 economic development programs. Per Section
					 RSA 12.0273 of the
					 Texas Agriculture Code, the Department may use money in the Texas Economic
					 Development Fund only to make loans and grants.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 29 - ECONOMIC DEVELOPMENT › Subchapter B - RURAL ECONOMIC DEVELOPMENT CAPITAL FOR TEXAS PROGRAM › Section 29.23 - Jobs for Texas Program for Initial Investments Using SSBCI Funds

Current through Reg. 49, No. 28; July 12, 2024
(a) The J4T Program is continued by the
				  Department for all initial investments of SSBCI Funds.
(b) The Act, Compliance Standards and Policy
				  Guidelines apply to all initial investments of SSBCI Funds.
(c) All terms and conditions of Agreements
				  entered into between the Department and Fund Managers in the administration of
				  the J4T Program continue to apply to the Department and Fund Managers until
				  those Agreements expire or are terminated according to their terms.
(d) The purpose of these rules is to ensure
				  the continued administration and orderly conclusion of the J4T Program, and to
				  establish regulations for the recycling of SSBCI funds generated from returns
				  on investments made under this program.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 29 - ECONOMIC DEVELOPMENT › Subchapter B - RURAL ECONOMIC DEVELOPMENT CAPITAL FOR TEXAS PROGRAM › Section 29.24 - Capital for Texas Program for Initial Loans Using SSBCI Funds

Current through Reg. 49, No. 28; July 12, 2024
(a) The Capital for Texas Program is
				  continued by the Department for all initial loans made with SSBCI
				  Funds.
(b) The Act, Compliance
				  Standards and Policy Guidelines for all initial loans made with SSBCI
				  Funds.
(c) All terms and conditions
				  of Agreements entered into between the Department and CDFIs in the
				  administration of the Capital for Texas Program continue to apply to the
				  Department and CDFIs until those Agreements expire or are terminated according
				  to their terms.
(d) The purpose of
				  these rules is to ensure the continued administration and orderly conclusion of
				  the Capital for Texas Program, and to establish regulations for the recycling
				  of SSBCI funds generated from loan repayments under this program.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 29 - ECONOMIC DEVELOPMENT › Subchapter B - RURAL ECONOMIC DEVELOPMENT CAPITAL FOR TEXAS PROGRAM › Section 29.25 - Rural Economic Development Capital for Texas (RED C4T) Program

Current through Reg. 49, No. 28; July 12, 2024
(a) The RED C4T Program shall promote rural
				  economic development and agricultural development in this State.
(b) The Department may utilize Other Funds or
				  Recycled Funds to make allocations to Recipients selected by the Department to
				  administer the RED C4T Program.
(c)
				  The Department may authorize grants or loans under the RED C4T Program to
				  eligible entities that will in turn administer the funds on behalf of the
				  Department.
(d) RED C4T funds must
				  be administered according to the original application filed and approved by the
				  Department and must meet the requirements and the objectives of the RED C4T
				  Program.
(e) The initial
				  investment, whether a grant or loan, must be made to an entity directly
				  supporting rural economic development, or a rural small business or small
				  agricultural business of this State.
(f) An eligible Recipient of a RED C4T
				  investment may be political subdivisions, economic development organizations,
				  non-profits, utility companies, public-private partnerships or for-profit
				  entities that are directly supporting a small rural business or small
				  agricultural business of this State.
(g) Specific legal terms and obligations
				  applicable to the Department and any Recipient shall be defined in an
				  Agreement.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 29 - ECONOMIC DEVELOPMENT › Subchapter B - RURAL ECONOMIC DEVELOPMENT CAPITAL FOR TEXAS PROGRAM › Section 29.26 - RED C4T Recipient Eligibility Requirements

Current through
				  Reg. 49, No. 28; July 12, 2024
(a) An applicant is eligible for an
				  investment from the Department if, at minimum, it:
(1) Demonstrates its ability to administer
				  and mobilize RED C4T funds to meet program objectives;
(2) Demonstrates it has sufficient funds to
				  adequately leverage a RED C4T investment according to the Agreement and the
				  program's Policy and Procedures;
(3) Is a legal entity formed, existing and in
				  good standing under the laws of the United States of America and the
				  State;
(4) Meets eligibility
				  requirements defined in this subchapter and the solicitation document issued by
				  the Department; and
(5) Is legally
				  authorized to do business in this State and has a principal place of business
				  in the State.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 29 - ECONOMIC DEVELOPMENT › Subchapter B - RURAL ECONOMIC DEVELOPMENT CAPITAL FOR TEXAS PROGRAM › Section 29.27 - Filing Requirements and Consideration for RED C4T Investment Applications

Current through Reg. 49, No. 28; July
				  12, 2024
(a) Application
				  forms. An applicant seeking a commitment from the Department shall use the
				  application forms provided by the Department.
(b) Submission of an application. Applicants
				  are required to submit the complete application and all required material to
				  the Department in accordance with the request for applications or other
				  solicitation. Staff will be available prior to submission of the qualified
				  application to discuss project eligibility.
(c) Staff Review. Staff will review the
				  application for completeness and will notify the applicant of any additional
				  information required. When all required information has been received within
				  the time set by the Department, staff will evaluate the technical and
				  feasibility of the project and examine the benefits of the project for economic
				  growth in the state.
(d)
				  Notification of approval. Upon approval of the qualified application by the
				  Department, staff will notify the applicant and execute an Agreement between
				  the applicant and the Department.
(e) Denial of an application. If an
				  application is denied by the Department, the Department will notify the
				  applicant in writing identifying the reasons for denial. Applicants who have
				  been denied may re-apply for participation in the program.
(f) Providing false information. An applicant
				  who knowingly provides false information in an application is liable to the
				  Department for any expense incurred by the Department that results from the
				  provision of false information to the Department. Any financial assistance,
				  commitment or loan by the Department made as a result of a misrepresentation or
				  providing false information in an application will be subject to termination
				  with a requirement for full repayment of any and all proceeds disbursed to the
				  applicant or Recipient by the Department. In addition, the Department may
				  pursue any other remedies provided by law.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 29 - ECONOMIC DEVELOPMENT › Subchapter B - RURAL ECONOMIC DEVELOPMENT CAPITAL FOR TEXAS PROGRAM › Section 29.28 - Criteria for a RED C4T Investment

Current through Reg. 49, No.
				  28; July 12, 2024
In evaluating and selecting applications for an investment
					 under this program, the Department shall consider:
(1) The anticipated benefits arising from the
				  investment to the applicant, including both the potential impact on
				  agricultural development and rural economic development;
(2) The qualifications of the applicant;
(3) The ability of the applicant
				  to leverage its own funds with RED C4T funds to ensure RED C4T funds are
				  mobilized;
(4) The applicant's
				  ability to administer RED C4T funds;
(5) The extent and level of other funding
				  sources for the applicant;
(6) The
				  applicant's ability to meet the program's objectives including current and
				  previous success in supporting agricultural development and/or rural economic
				  development; and
(7) The
				  applicant's present involvement with related local organizations.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 29 - ECONOMIC DEVELOPMENT › Subchapter B - RURAL ECONOMIC DEVELOPMENT CAPITAL FOR TEXAS PROGRAM › Section 29.29 - General Terms and Conditions of a RED C4T Investment

Current
				  through Reg. 49, No. 28; July 12, 2024
(a) Permissible use of investment. The
				  Department's investment is to be used to finance individual loans and/or grants
				  that meet the RED C4T Program's objectives and terms defined by the
				  Agreement.
(b) Minimum amount of
				  investment. The Department shall not provide an investment to an applicant
				  where the amount of the investment is less than $100,000.
(c) Maximum amount of investment. The
				  cumulative amount of investment(s) to an applicant may not exceed $1,000,000.
(d) Investment Return. The
				  investment return shall be the rate approved by the Department and/or lender,
				  if applicable.
(e) Investment term.
				  The term of the initial investment shall be defined in the Agreement between
				  the Recipient and the Department. Any extension to the initial term must be
				  approved in writing by the Department.
(f) Reporting requirements for an investment
				  provided by the Department, at minimum, include:
(1) Annual reporting. The Recipient shall
				  provide to the Department a copy of its annual audit report.
(2) Quarterly reports. The Recipient shall
				  provide to the Department quarterly reports, in a format approved by the
				  Department, summarizing its activities or accomplishments for the previous
				  three-month period. Quarterly reports are due thirty days after the end of each
				  quarter or as specified in the Agreement.
(3) If necessary, the Department may request
				  other reports or documentation reasonably necessary for an assessment of the
				  applicant's compliance with the program.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 29 - ECONOMIC DEVELOPMENT › Subchapter B - RURAL ECONOMIC DEVELOPMENT CAPITAL FOR TEXAS PROGRAM › Section 29.30 - Criteria for Administering RED C4T Funds

Current through Reg.
				  49, No. 28; July 12, 2024
In administering the funds provided by the initial RED C4T
					 investment, the Recipient:
(1) Shall
				  administer the funds in accordance with the Agreement approved by the
				  Department and the Recipient, applicable statutes, and program rules;
(2) Must mobilize the RED C4T
				  funds in a timely manner to ensure the initial investment is meeting the
				  objectives of the RED C4T Program;
(3) Shall submit all loan and grant
				  applications for approval by the Department;
(4) Shall certify that all loans and grants
				  funded with the RED C4T investment meet the eligibility requirements of this
				  subchapter; and
(5) May make loans
				  to new borrowers using funds generated from loan repayments received by the
				  Recipient as a result of loans made by the Recipient under the Agreement;
				  however, no new loans may be made after the Investment Period in the Agreement
				  has expired or terminated.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 29 - ECONOMIC DEVELOPMENT › Subchapter B - RURAL ECONOMIC DEVELOPMENT CAPITAL FOR TEXAS PROGRAM › Section 29.31 - Prohibited Investments

Current through Reg. 49, No. 28; July 12,
				  2024
Prohibited investments under the RED C4T Program include
					 the following:
(1) Grants or loans
				  for activities that relate to lobbying activities, as such activities are
				  defined under state or federal law;
(2) Grants or loans to childcare facilities,
				  including day cares and after-school programs;
(3) Grants or loans for the refinancing of
				  existing debt;
(4) Grants or loans
				  involving the acquisition or holding of passive investments, such as commercial
				  real estate ownership;
(5) Grants
				  or loans for the repayment of delinquent federal or state income taxes;
(6) Grants or loans for the
				  repayment of payroll or sales taxes, or other taxes required to be held in
				  trust or escrow;
(7) Grants or
				  loans that are, or are made in a manner that is, prohibited by federal or state
				  laws that pertain to the investment of public money; and
(8) Such other grants or loans that the
				  Department may deem to be Prohibited Investments, as communicated by the
				  Department to the Recipient from time to time.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 29 - ECONOMIC DEVELOPMENT › Subchapter D - TEXAS RURAL INVESTMENT FUND PROGRAM › Section 29.60 - Authority

Current through Reg. 49, No. 28; July 12, 2024
Pursuant to §
										RSA
					 12.046 of the Texas Agriculture Code, the
					 Texas Department of Agriculture establishes the Texas Rural Investment Fund
					 Program.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 29 - ECONOMIC DEVELOPMENT › Subchapter D - TEXAS RURAL INVESTMENT FUND PROGRAM › Section 29.61 - Purpose

Current through Reg. 49, No. 28; July 12, 2024
The Texas Rural Investment Fund was established by Senate
					 Bill 1016, 81st Texas Legislature, R.S., as an economic development program for
					 Rural Communities.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 29 - ECONOMIC DEVELOPMENT › Subchapter D - TEXAS RURAL INVESTMENT FUND PROGRAM › Section 29.62 - Definitions

Current through Reg. 49, No. 28; July 12, 2024
The following words and terms when used in this subchapter,
					 shall have the following meanings unless the context clearly indicates
					 otherwise.
(1) Act--Section
				  RSA
				  12.046 of the Texas Agriculture Code, enacted
				  in Senate Bill 1016, 81st Texas Legislature, R.S.
(2) Commissioner--The Commissioner of the
				  Texas Department of Agriculture.
(3) Department--The Texas Department of
				  Agriculture.
(4) Fund--The Texas
				  Rural Investment Fund, which is a dedicated account in the general revenue fund
				  for the State of Texas and consists of:
(A)
				  appropriations of money to the fund by the legislature;
(B) gifts, grants, including federal grants,
				  and other donations received for the fund; and
(C) interest earned on the investment of
				  money in the fund.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 29 - ECONOMIC DEVELOPMENT › Subchapter D - TEXAS RURAL INVESTMENT FUND PROGRAM › Section 29.63 - Financial Assistance Available Under the Program

Current through
				  Reg. 49, No. 28; July 12, 2024
The Fund may be used by the Department only to pay for
					 grants or loans to public or private entities for projects in Rural Communities
					 that have strong local support, provide positive return on the state's
					 investment, and stimulate one or more of the following:
(1) local entrepreneurship;
(2) job creation or retention;
(3) new capital investment;
(4) strategic economic development
				  planning;
(5) individual economic
				  and community development leadership training;
(6) housing development; or
(7) innovative workforce education.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 29 - ECONOMIC DEVELOPMENT › Subchapter D - TEXAS RURAL INVESTMENT FUND PROGRAM › Section 29.64 - Administration

Current through Reg. 49, No. 28; July 12, 2024
The Department shall administer the Program and any grants
					 or loans provided under the Program.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 29 - ECONOMIC DEVELOPMENT › Subchapter D - TEXAS RURAL INVESTMENT FUND PROGRAM › Section 29.65 - Evaluation of Projects

Current through Reg. 49, No. 28; July 12,
				  2024
In awarding a grant or loan of money from the Fund for a
					 project, the Department shall consider:
(1) the project's effect on job creation and
				  wages;
(2) the financial strength
				  of the applicant;
(3) the
				  applicant's business history;
(4)
				  an analysis of the relevant business sector;
(5) whether there is public or private sector
				  financial support for the project; and
(6) whether there is local support for the
				  project.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 29 - ECONOMIC DEVELOPMENT › Subchapter D - TEXAS RURAL INVESTMENT FUND PROGRAM › Section 29.66 - Request for Proposals

Current through Reg. 49, No. 28; July 12,
				  2024
Upon funding of the Program, the Department will issue one
					 or more Requests for Proposals for qualifying projects, at such times and upon
					 such terms, as determined by the Department.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 29 - ECONOMIC DEVELOPMENT › Subchapter E - RURAL ECONOMIC DEVELOPMENT AND INVESTMENT PROGRAM › Section 29.70 - Authority

Current through Reg. 49, No. 28; July 12, 2024
Pursuant to §
										RSA
					 12.0271 of the Texas Agriculture Code, the
					 Texas Department of Agriculture establishes the Rural Economic Development and
					 Investment Program.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 29 - ECONOMIC DEVELOPMENT › Subchapter E - RURAL ECONOMIC DEVELOPMENT AND INVESTMENT PROGRAM › Section 29.71 - Purpose

Current through Reg. 49, No. 28; July 12, 2024
The Rural Economic Development and Investment Program was
					 established by Senate Bill 1016, 81st Texas Legislature, R.S., as a financial
					 assistance program to encourage private development in rural
					 areas.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 29 - ECONOMIC DEVELOPMENT › Subchapter E - RURAL ECONOMIC DEVELOPMENT AND INVESTMENT PROGRAM › Section 29.72 - Definitions

Current through Reg. 49, No. 28; July 12, 2024
The following words and terms when used in this subchapter,
					 shall have the following meanings unless the context clearly indicates
					 otherwise.
(1) Act--Section
				  RSA
				  12.0271 of the Texas Agriculture Code,
				  enacted in Senate Bill 1016, 81st Texas Legislature, R.S.
(2) Commissioner--The Commissioner of the
				  Texas Department of Agriculture.
(3) Department--The Texas Department of
				  Agriculture.
(4) Community
				  Development Financial Institution--A Texas Community Development Financial
				  Institution certified by the United States Department of the Treasury in
				  accordance with the federal Community Development Banking and Financial
				  Institutions Act of 1994,
				  RSA 4701,
				  et seq.
(5) Economic Development
				  Corporation--A Texas nonprofit corporation in good standing that has obtained a
				  letter ruling from the United States Internal Revenue Service confirming its
				  status as a nonprofit organization described in §501(c)(3) of the Internal
				  Revenue Code of 1986, and whose purpose is to promote economic development in
				  Texas rural areas.
(6) Eligible
				  Entity--Defined in §
										RSA 29.73 of this
				  title (relating to Eligible Entity).
(7) Nonretail Enterprise--A private
				  enterprise whose sole business is selling to retailers or jobbers, rather than
				  to consumers.
(8) Program--The
				  Rural Economic Development and Investment Program established by the Act and
				  this subchapter.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 29 - ECONOMIC DEVELOPMENT › Subchapter E - RURAL ECONOMIC DEVELOPMENT AND INVESTMENT PROGRAM › Section 29.73 - Eligible Entity

Current through Reg. 49, No. 28; July 12,
				  2024
Financial assistance under the Program may be provided only
					 to:
(1) a county with a population of
				  not more than 75,000;
(2) a
				  municipality with a population of not more than 50,000; or
(3) an Economic Development Corporation or
				  Community Development Financial Institution that primarily represents a county
				  or municipality described in paragraphs (1) and (2) of this section.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 29 - ECONOMIC DEVELOPMENT › Subchapter E - RURAL ECONOMIC DEVELOPMENT AND INVESTMENT PROGRAM › Section 29.74 - Financial Assistance Available Under the Program

Current through
				  Reg. 49, No. 28; July 12, 2024
Financial assistance under the Program may be used only for
					 a project relating to:
(1) the
				  acquisition or development of land, easements, or rights-of-way;
(2) attracting new private enterprises to the
				  county or municipality, including:
(A)
				  manufacturing facilities;
(B)
				  freight storage facilities;
(C)
				  distribution warehouse centers; and
(D) other Nonretail Enterprises;
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 29 - ECONOMIC DEVELOPMENT › Subchapter E - RURAL ECONOMIC DEVELOPMENT AND INVESTMENT PROGRAM › Section 29.75 - Methods of Providing Financial Assistance

Current through Reg.
				  49, No. 28; July 12, 2024
The Commissioner may provide financial assistance to an
					 Eligible Entity by:
(1) extending
				  credit by direct loan, based on the credit of the Eligible Entity;
(2) providing a credit enhancement;
(3) effectively lowering interest
				  rates;
(4) financing a purchase or
				  lease agreement in connection with an economic or infrastructure development
				  project; or
(5) providing methods
				  of leveraging money from sources other than this state that are related to the
				  project for which assistance is provided.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 29 - ECONOMIC DEVELOPMENT › Subchapter E - RURAL ECONOMIC DEVELOPMENT AND INVESTMENT PROGRAM › Section 29.76 - Segregation of Funds by Eligible Entity

Current through Reg. 49, No.
				  28; July 12, 2024
An Eligible Entity that receives funds under the Program
					 shall segregate Program funds from other funds under its control. The Eligible
					 Entity may use Program funds only for a project approved by the Commissioner.
					 All funds disbursed under the Program must be repaid on terms determined by the
					 Department.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 29 - ECONOMIC DEVELOPMENT › Subchapter E - RURAL ECONOMIC DEVELOPMENT AND INVESTMENT PROGRAM › Section 29.77 - Segregation of Funds by Eligible Entity

Current through Reg. 49, No.
				  28; July 12, 2024
Upon funding of the Program, the Department will issue one
					 or more Requests for Proposals for qualifying projects, at such times and upon
					 such terms, as determined by the Department.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 30 - COMMUNITY DEVELOPMENT › Subchapter A - TEXAS COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM › Division 1 - GENERAL PROVISIONS › Section 30.1 - Authority

Current through Reg. 49, No. 28; July 12, 2024
(a) The Department administers the Texas
					 Community Development Block Grant (TxCDBG) Program, which administers the
					 state's allocation of federal funds provided under the community development
					 block grant non-entitlement program pursuant to §§
											RSA
					 487.051(a)(6),
					 RSA
					 487.351, and
					 RSA
					 487.354 of the Texas Government Code and in
					 accordance with the Housing and Community Development Act of 1974
					 (RSA
					 5301 et seq.), 24 CFR Part 570 , and this
					 subchapter.
(b) This subchapter
					 does not apply to grants funded under the Colonia Self Help Center legislative
					 set-aside program. Administrative procedures for these grants will be adopted
					 and implemented by the Texas Department of Housing and Community Affairs
					 (TDHCA).
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 30 - COMMUNITY DEVELOPMENT › Subchapter A - TEXAS COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM › Division 1 - GENERAL PROVISIONS › Section 30.2 - Definitions

Current through Reg. 49, No. 28; July 12, 2024
In addition to the general definitions contained with
						Title 4, Part 1, Chapter 1, §1.1, the following terms, when used in this
						subchapter, shall have the following specific meaning unless the context
						clearly indicates otherwise:
(1)
					 Applicant--A unit of general local government in a non-entitlement area that
					 submits an application to the Department for funding under the TxCDBG
					 program.
(2) ARO--The
					 administrative review official.
(3)
					 CDBG--community development block grant.
(4) CFR--Code of Federal
					 Regulations.
(5) Grant
					 recipient--An applicant that has been awarded or received a grant under the
					 TxCDBG Program.
(6) HUD--United
					 States Department of Housing and Urban Development.
(7) Non-entitlement area--An area of the
					 state which is not a metropolitan city or part of an urban county, as defined
					 in
					 RSA 5302, and
					 does not include Indian tribes.
(8)
					 RFA--Request for Applications.
(9)
					 TxCDBG--Texas Community Development Block Grant Program.
(10) TxGMS--Texas Grant Management Standards
					 promulgated by the Texas Comptroller of Public Accounts.
(11) Unit of general local government--a
					 city, county, town, township, village, or other general purpose political
					 subdivision of the state, or as otherwise defined in
					 RSA
					 5302.
(12) USC--United States Code.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 30 - COMMUNITY DEVELOPMENT › Subchapter A - TEXAS COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM › Division 1 - GENERAL PROVISIONS › Section 30.3 - Funding

Current through Reg. 49, No. 28; July 12, 2024
(a) The Department shall allocate the state's
					 annual CDBG grant and establish the funding of TxCDBG programs in accordance
					 with the state's annual action plan, which is available on the Department's
					 website and the HUD Exchange, HUD's online platform for program information,
					 guidance, and tools.
(b) For funds
					 allocated to the Community Development Fund category within the TxCDBG program,
					 funds are allocated among the twenty-four State planning regions based on a
					 combination of the following two formulas:
(1)
					 Original CD formula, which takes into account the following factors:
(A) Non-Entitlement Population;
(B) Number of Persons in Poverty;
(C) Percentage of Poverty Persons;
(D) Number of Unemployed Persons;
					 and
(E) Percentage of Unemployed
					 Persons; and
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 30 - COMMUNITY DEVELOPMENT › Subchapter A - TEXAS COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM › Division 1 - GENERAL PROVISIONS › Section 30.4 - Eligible Applicants

Current through Reg. 49, No. 28; July 12,
					 2024
(a) Units of
					 general local government located in non-entitlement areas that are not eligible
					 to participate or that opt not to participate in the entitlement portion of the
					 federal CDBG Program are eligible to apply for funding under the TxCDBG
					 Program. An exception to this requirement is Hidalgo County, an entitlement
					 county, which is eligible to apply for the Colonia Fund only.
(b) Non-entitlement cities are cities located
					 predominately in rural areas and generally:
(1) have a population of less than
					 50,000;
(2) are not designated as a
					 central city of a metropolitan statistical area; or
(3) are not participating in urban county
					 CDBG programs.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 30 - COMMUNITY DEVELOPMENT › Subchapter A - TEXAS COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM › Division 1 - GENERAL PROVISIONS › Section 30.5 - Application Process

Current through Reg. 49, No. 28; July 12,
					 2024
(a) Subject to
					 available funding, the Department will issue a RFA for current TxCDBG programs.
					 The RFA shall be publicly available through the Department's website.
(b) The RFA, at a minimum, will provide the
					 following information:
(1) eligibility
					 requirements for the particular grant program;
(2) the maximum and minimum amount of
					 individual grants;
(3) any
					 limitations on the type of eligible applicants;
(4) limits, if any, on the number of grant
					 applications that may be submitted by an applicant for a particular grant
					 program;
(5) filing instructions
					 and the deadline for the submission of applications;
(6) any match requirements;
(7) program objectives and guidelines for
					 proposed projects;
(8) evaluation
					 and award criteria, including guidance regarding the range of possible scores
					 or points to be awarded to each of the selection criteria and any special
					 factors to be evaluated in assigning points under the selection
					 criteria;
(9) any prohibitions on
					 the use of grant funds; and
(10)
					 Department contact information.
Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 30 - COMMUNITY DEVELOPMENT › Subchapter A - TEXAS COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM › Division 1 - GENERAL PROVISIONS › Section 30.8 - Administrative Appeal

Current through Reg. 49, No. 28; July 12,
					 2024
(a) Actions subject
					 to appeal. The following actions are subject to appeal.
(1) An appeal may only be filed based on
					 denial or disqualification of an application for TxCDBG funding as a result of
					 procedural errors by Department staff. All other decisions regarding contracts
					 and grant administration are final.
(2) The failure of a grant administrator or
					 consultant to properly submit all required documentation to the Department is
					 not a basis for appeal.
(3) A
					 request to waive program requirements is not a basis for appeal.