- (a) The Department administers all Texas Bootstrap Loan Program funds provided to the Department in accordance with Texas Government Code, Chapter 2306, Subchapter FF. The Department shall solicit gifts and grants to make loans under this chapter.
(b) The Department may also make loans under this chapter from:
- (1) available funds in the Housing Trust Fund established under Texas Government Code, §2306.201; or
- (2) federal block grants that may be used for the purposes of this chapter.
- (c) Each state fiscal year the Department shall transfer at least $3 million to the Texas Bootstrap Loan Program from money received under federal block grants or from available funds in the Housing Trust Fund.
- (d) In a state fiscal year the Department may use not more than 10 percent of the revenue available to enhance the ability of tax-exempt organizations described by Texas Government Code, §2306.755(a) to enhance the number of such organizations that are able to implement the Program. The Department shall use that available revenue to provide financial assistance, technical training and management support.
Source Note:The provisions of this §24.3 adopted to be effective November 1, 2012, 37 TexReg 8496; amended to be effective November 5, 2017, 42 TexReg 6007.