Bill Text: TX HB40 | 2017-2018 | 85th Legislature | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to the deposit of money received from the federal government and the authority of the comptroller concerning related funds and accounts.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2017-05-09 - Placed on General State Calendar [HB40 Detail]
Download: Texas-2017-HB40-Introduced.html
Bill Title: Relating to the deposit of money received from the federal government and the authority of the comptroller concerning related funds and accounts.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2017-05-09 - Placed on General State Calendar [HB40 Detail]
Download: Texas-2017-HB40-Introduced.html
| 85R11765 JJT-D | ||
| By: Simmons | H.B. No. 40 | |
|
|
||
|
|
||
| relating to the deposit of money received from the federal | ||
| government and the authority of the comptroller concerning related | ||
| funds and accounts. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subchapter B, Chapter 403, Government Code, is | ||
| amended by adding Section 403.0125 to read as follows: | ||
| Sec. 403.0125. FEDERAL MONEY DEPOSITED TO TREASURY. (a) | ||
| The comptroller may not deposit to the credit of the general revenue | ||
| fund money received from the federal government or accrued interest | ||
| or other earnings on money received from the federal government. | ||
| The comptroller shall account for and administer federal money | ||
| separately from money in the general revenue fund in a manner that | ||
| ensures federal money and earnings on federal money are used for the | ||
| purposes for which federal money is received. | ||
| (b) To facilitate the administration of federal money under | ||
| this section or other law, the comptroller may: | ||
| (1) designate or create a fund or account in the | ||
| treasury for the deposit of federal money and any interest or other | ||
| earnings on the federal money; | ||
| (2) merge, consolidate, or segregate funds or accounts | ||
| or money deposited to funds or accounts; or | ||
| (3) abolish a fund or an account in the general revenue | ||
| fund to which federal money has been deposited in accordance with | ||
| other law. | ||
| (c) This section prevails over other general law that | ||
| provides for money received from the federal government, or | ||
| earnings on money received from the federal government, to be | ||
| deposited to the credit of the general revenue fund or to the credit | ||
| of an account in the general revenue fund. To the extent of any | ||
| other conflict between this section and other law, this section | ||
| controls. | ||
| SECTION 2. This Act takes effect September 1, 2017. | ||
