SECTION 187.1. Capital Access Program Authority

Pursuant to the authority granted by the Texas Government Code, Chapter 481, Subchapter BB, §481.406, and the Administrative Procedure Act, Texas Government Code, Chapter 2001, Subchapter B, Rulemaking, the Economic Development and Tourism Office in the Office of the Governor (Office) prescribes the following rules regarding the administration, implementation, practice and procedure of the capital access program. The purpose of this program is to provide access to capital for small and medium sized businesses and nonprofit organizations, as defined herein, that may otherwise fall outside conventional lending guidelines. Special consideration is given to small and medium sized businesses that are either located in an established enterprise zone, or operate or propose to operate a day-care center or group day-care home.

Source Note: The provisions of this §187.1 adopted to be effective September 15, 1997, 22 TexReg 8967; amended to be effective August 5, 2012, 37 TexReg 5735