Bill Text: TX HB2674 | 2023-2024 | 88th Legislature | Comm Sub

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Relating to the application submitted to the comptroller for designation as a state depository.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Passed) 2023-06-11 - Effective immediately [HB2674 Detail]

Download: Texas-2023-HB2674-Comm_Sub.html

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88R8344 KBB-F
By: Kitzman H.B. No. 2674

A BILL TO BE ENTITLED
AN ACT
relating to the application submitted to the comptroller for
designation as a state depository.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Sections 404.022(a), (c), and (d), Government
Code, are amended to read as follows:
(a) The comptroller, not later than the first business day
in May [June] of each odd-numbered year, shall notify [mail to each]
eligible institutions [institution a letter stating] the
conditions with which applicants for designation as a state
depository must comply. The comptroller shall keep on file in the
comptroller's office and make available for inspection by any
person a list of institutions to which notification has [letters
have] been sent.
(c) An application shall be mailed or electronically
submitted to the comptroller at Austin and must be received before
noon on the first business day of August of the year in which the
notification [letter] is sent. An application received after that
time may be considered at the option of the comptroller. The
comptroller may charge a processing fee of $25 for each application
and shall deposit the fees to the credit of the general revenue
fund. The comptroller may specify the format required for
electronic submissions and may adopt rules to administer this
section.
(d) [On receipt of an application under this section, the
comptroller shall endorse on the application the date of its
receipt.] The comptroller shall prepare a list of the names of the
applicants and the amount for which each has applied.
SECTION 2. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2023.