Sec. 489.101. CREATION OF BANK. (a) The office shall establish the Texas Economic Development Bank for the purpose of:
(1) providing globally competitive, cost-effective state incentives to expanding businesses operating in this state and businesses relocating to this state; and
(2) ensuring that communities and businesses in this state have access to capital for economic development purposes.
(b) The bank's effectiveness shall be measured on the basis of the number of jobs created and retained and the total amount of nonstate funds leveraged as a result of the bank's efforts.
Added by Acts 2003, 78th Leg., ch. 814, Sec. 2.01, eff. Sept. 1, 2003.
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