TX SB222

Creates a revolving loan program administered by the Texas Comptroller to provide interest-free loans to historically underutilized businesses (HUBs) for purchasing performance and payment bonds required for public work contracts with governmental entities

Establishes tiered loan limits based on experience: up to $100,000 for businesses with no prior public contracts, up to $200,000 for those with at least one completed contract, and up to $250,000-$500,000 for those with two or more contracts depending on contractor status

Requires eligible applicants to be HUBs in construction or building trades, have been in business at least one year, have principal place of business in Texas, and meet contract experience and financial standards

Imposes ineligibility periods of 5 years for businesses that default on a bond and 7 years for those that file bankruptcy, and prohibits defaulting businesses from contracting with government entities until repaying at least half the loan

Establishes the Texas Historically Underutilized Business Bond Assistance Revolving Loan Account in the general revenue fund, requires annual reporting to the legislature by January 15, and mandates biennial audits by the State Auditor