Section 436.156 - Texas Military Value Revolving Loan Account(a) The Texas military value revolving loan account is an account in the general revenue fund.(b) The account may be used only for loans made under this subchapter.(c) The commission shall deposit to the credit of the account all loan payments made by a political subdivision for a loan under Section 436.153, 436.1531, or 436.1532. The loan payments shall be used to reimburse the general revenue fund for money appropriated to pay the principal, premium if any, and interest on the bonds issued under Section 436.158. If loan payments exceed the amounts required for reimbursement, the excess shall first be applied to reimburse the expenses of administering the program and secondly deposited to the credit of the Texas military value revolving loan account to fund subsequent loans.Tex. Gov't. Code § 436.156
Amended by Acts 2015, Texas Acts of the 84th Leg. - Regular Session, ch. 330,Sec. 11, eff. 9/1/2015.Amended By Acts 2009, 81st Leg., R.S., Ch. 43, Sec. 14, eff. 9/1/2009.Added by Acts 2003, 78th Leg., ch. 149, Sec. 3, eff. 5/27/2003.