(a) In carrying out its duties and responsibilities under this subchapter, the Commission shall:
- (1) publicize the loan program to potential applicants;
- (2) work closely with loan applicants to ensure the application is complete and all relevant material is provided;
- (3) establish and conduct the evaluation process in a responsive manner to maximize the opportunity to acquire federal and other funding;
- (4) develop contracts with awardees that include sufficient performance measures, audit requirements, and reporting requirements to ensure prudence and due diligence in the expenditure of state funds; and
- (5) minimize reporting requirements that may be repetitive of reporting required by federal grant agencies or that may be unnecessary for the effective monitoring of the program.
- (b) The Director on behalf of the Commission, in consultation with the Chief of Staff or his designee, may waive any provision of this chapter upon a finding that the public interest would be furthered by granting the waiver.
Source Note:The provisions of this §4.7 adopted to be effective October 10, 2010, 35 TexReg 9077; amended to be effective January 28, 2016, 41 TexReg 681; amended to be effective April 22, 2020, 45 TexReg 2539.