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Texas Government Code - GOV'T § 490.101. Texas Emerging Technology Fund

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

(a) The Texas emerging technology fund is a dedicated account in the general revenue fund.

(b) The following amounts shall be deposited in the fund:

(1) any amounts appropriated by the legislature for the fund;

(2) benefits realized from a project undertaken with money from the fund, as provided by a contract entered into under Section 490.103;

(3) gifts, grants, and other donations received for the fund;  and

(4) interest earned on the investment of money in the fund.

<Text of (b-1), as added by Acts 2015, 84th Leg., ch. 323 (S.B. 632), § 3 and Acts 2015, 84th Leg., ch. 915 (H.B. 26), § 1.03>

(b-1) Notwithstanding Subsection (b), benefits realized from a project undertaken with money from the fund, as provided by a contract entered into under former Section 490.103 before September 1, 2015, shall be deposited to the credit of the governor's university research initiative fund established under Subchapter H, Chapter 62, Education Code.  1

<Text of (b-1), as added by Acts 2015, 84th Leg., ch. 448 (H.B. 7), § 16>

(b-1) The fund may be used only for the purposes described by Section 490.104.

(b-2) The fund may be used only for the purposes described by Section 490.104.

(c) to (i) Repealed by Acts 2015, 84th Leg., ch. 323 (S.B. 632), § 4(a)(1);  Acts 2015, 84th Leg., ch. 448 (H.B. 7), § 47(1);  and Acts 2015, 84th Leg., ch. 915 (H.B. 26), § 1.04(a)(1).

1   V.T.C.A., Education Code § 62.161 et seq.
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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 490.101. Texas Emerging Technology Fund - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-490-101/

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