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Texas Government Code - GOV'T § 481.688. Quantum University and Business Innovation for Texas Fund

Current as of January 01, 2024 | Updated by Findlaw Staff

<Another Subchapter HH was added by Acts 2025, 89th Leg., ch. 239 (S.B. 2925), § 1;  see the notes provided in the heading for this subchapter.>

(a) In this section, "fund" means the Quantum University and Business Innovation for Texas Fund created by this section.

(b) The Quantum University and Business Innovation for Texas Fund is created as a dedicated account within the general revenue fund.  The fund consists of:

(1) gifts, grants, or donations to the fund;

(2) money from any other source designated by the legislature;  and

(3) interest earned from investing money from the fund.

(c) The office may use money in the fund to:

(1) award grants to state entities, including institutions of higher education, for quantum manufacturing and design projects;

(2) award grants to business entities, including nonprofit organizations with a purpose associated with or significant ties to the quantum industry, to encourage economic development related to quantum manufacturing and design projects; and

(3) pay for staffing costs described by Section 481.684.

(d) Matching funding to state entities for quantum manufacturing and design projects may come from any lawful source, including general revenue, local bonds, grants, or other money from the United States, or private endowments.

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 481.688. Quantum University and Business Innovation for Texas Fund - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-481-688/

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