H.B. No. 2765 amends the Agriculture Code to enhance the Rural Economic Development and Investment Program and the Texas economic development fund. Key changes include raising the population limit for counties eligible for financial assistance from 75,000 to 200,000 and expanding the types of entities that can receive assistance to include public utilities owned by municipalities, political subdivisions, and economic development corporations. Additionally, the bill allows financial assistance to be used for a broader range of projects, including mineral extraction activities and other nonretail private enterprises.

The bill also modifies the terms of loans made from the Texas economic development fund, establishing a maximum loan term of 20 years and removing the requirement for monthly payments to begin within 90 days of the loan's issuance. It sets a cap of $1 million on the total amount of outstanding loans to any individual at any time and allows the department to adopt rules for loan repayment. The changes are set to take effect on September 1, 2025.

Statutes affected:
Introduced: Agriculture Code 12.0271, Agriculture Code 12.0272, Agriculture Code 12.0273 (Agriculture Code 12)
House Committee Report: Agriculture Code 12.0271, Agriculture Code 12.0272, Agriculture Code 12.0273 (Agriculture Code 12)
Engrossed: Agriculture Code 12.0271, Agriculture Code 12.0272, Agriculture Code 12.0273 (Agriculture Code 12)
Senate Committee Report: Agriculture Code 12.0271, Agriculture Code 12.0272, Agriculture Code 12.0273 (Agriculture Code 12)
Enrolled: Agriculture Code 12.0271, Agriculture Code 12.0272, Agriculture Code 12.0273 (Agriculture Code 12)