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Senate approves changes to rural economic development program, tightens grant/loan caps
Summary
The Texas Senate passed House Bill 27 65 to expand eligibility and change administration of the Rural Economic Development and Investment Program and the Texas Economic Development Fund, including separate $1 million caps and new repayment rules; final passage was 26-5.
The Texas Senate passed House Bill 27 65 on final reading, changing how the Rural Economic Development and Investment Program and the Texas Economic Development Fund operate.
The bill, taken up under suspension of the regular order, expands eligibility for financial assistance under the rural economic development program, allows the Texas Department of Agriculture to set repayment rules, permits fund money to be used for both loans and grants, and applies…
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