Texas HB4735 establishes a program for rural development funds and tax credits for investments in those funds.

Texas HB4735 creates a framework for rural development funds, which can invest in targeted small businesses to foster growth. The bill outlines the application process for these funds, including required documentation and fees. It defines terms such as "growth investment" and "targeted small business," and sets conditions for tax credit eligibility. The comptroller of public accounts is responsible for approving applications, monitoring investments, and reducing or revoking tax credits and investment authority if certain conditions are not met.

Texas HB4735 establishes a program for rural development funds and tax credits for investments in those funds.

Texas HB4735 creates a framework for rural development funds, which can invest in targeted small businesses to foster growth. The bill outlines the application process for these funds, including required documentation and fees. It defines terms such as "growth investment" and "targeted small business," and sets conditions for tax credit eligibility. The comptroller of public accounts is responsible for approving applications, monitoring investments, and reducing or revoking tax credits and investment authority if certain conditions are not met.