Sec. 418.066. CREATION OF ACCOUNT. (a) The disaster recovery loan account is created as an account in the general revenue fund with the comptroller, to be administered by the division.
(b) Money in the account may be used only to provide short-term loans to eligible political subdivisions in the manner provided by this subchapter.
(c) The account consists of:
(1) money appropriated, credited, or transferred to the account by the legislature;
(2) money received by the comptroller for the repayment of a loan made from the account;
(3) gifts or grants contributed to the account; and
(4) interest earned on deposits and investments of the account.
Added by Acts 2019, 86th Leg., R.S., Ch. 946 (S.B. 6), Sec. 3, eff. September 1, 2019.
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