Section 228.201 - Definition of Qualified Business(a) In this chapter, "qualified business" means a business that complies with this section at the time of a certified capital company's first investment in the business.(b) A qualified business must:(1) be headquartered in this state and intend to remain in this state after receipt of the certified capital company's investment; and(2) have the business's principal business operations located in this state and intend to maintain business operations in this state after receipt of the certified capital company's investment.(c) A qualified business must agree to use the qualified investment primarily to:(1) support business operations in this state, other than advertising, promotion, and sales operations which may be conducted outside of this state; or(2) in the case of a start-up company, establish and support business operations in this state, other than advertising, promotion, and sales operations which may be conducted outside of this state.(d) A qualified business may not have more than 100 employees and must: (1) employ at least 80 percent of the business's employees in this state; or(2) pay 80 percent of the business's payroll to employees in this state.(e) A qualified business must be primarily engaged in:(1) manufacturing, processing, or assembling products;(2) conducting research and development; or(f) A qualified business may not be primarily engaged in: (2) real estate development;(3) the business of insurance, banking, or lending; or(4) the provision of professional services provided by accountants, attorneys, or physicians.Added by Acts 2007, 80th Leg., R.S., Ch. 730, Sec. 1B.001, eff. 4/1/2009.