How SB 26 changes current law

Compared against the Texas statutes as published AI-generated reading aid — verify against the official bill.

This bill amends 9 section(s) of the Texas statutes: Section 481.451, Government Code, Section 481.452, Government Code, Section 481.452(a), Government Code, Section 481.453, Government Code, Section 481.454(b), Government Code, Section 481.455, Government Code.

• SMALL- AND

  amended

• Section 481.451, Government Code

  Micro-business → small- and small- and Small- and micro-business small businesses or small- and (8) "Small business" means a corporation, partnership, sole proprietorship, or other legal entity that: (A) is domiciled in this state or has at least 51 percent of its employees located in this state; (B) is formed to make a profit; (C) is independently owned and operated; and (D) employs more than 20 and fewer than 100 full-time employees.

  amended

• Section 481.452, Government Code

  SMALL- AND

  amended

• Section 481.452(a), Government Code

  small- and

  amended

• Section 481.453, Government Code

  SMALL- AND

  amended

• Section 481.454(b), Government Code

  small businesses and

  amended

• Section 481.455, Government Code

  and (3) → small businesses and (a-1) The bank may not provide loans to micro-businesses under this chapter in an amount less than 50 percent of the total amount of all loans provided under the program in a fiscal biennium. small business or (C) has suffered physical or economic injury as the result of the event leading to the disaster declaration; and (D) has paid in full any previous loan received under this subchapter; (3) may not have an interest rate higher than the prevailing rate for a similar loan in this state; (4) small- and small business or small- and

  amended

• Section 481.4555, Government Code

  Sec. 481.4555. USES OF LOAN. An eligible small business or micro-business may use a loan received under this subchapter to pay the business's payroll costs, including costs related to the continuation of health care benefits for the business's employees.

  added

• Section 481.457(a), Government Code

  small businesses and

  amended

• Section 489.107(c), Government Code

  small business → small- and micro-business and micro-business

  amended