Bill Text: TX HB4246 | 2023-2024 | 88th Legislature | Comm Sub

NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to delivery of certain unclaimed money for scholarships for rural students, rural economic development, and energy efficiency assistance.

Spectrum: Slight Partisan Bill (Republican 12-5)

Status: (Passed) 2023-06-11 - Effective on 9/1/23 [HB4246 Detail]

Download: Texas-2023-HB4246-Comm_Sub.html
 
 
  By: Orr, et al. (Senate Sponsor - LaMantia) H.B. No. 4246
         (In the Senate - Received from the House May 8, 2023;
  May 9, 2023, read first time and referred to Committee on Business &
  Commerce; May 17, 2023, reported favorably by the following vote:  
  Yeas 9, Nays 0; May 17, 2023, sent to printer.)
Click here to see the committee vote
 
 
A BILL TO BE ENTITLED
 
AN ACT
 
  relating to delivery of certain unclaimed money for scholarships
  for rural students, rural economic development, and energy
  efficiency assistance.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 74.3013(f), Property Code, is amended to
  read as follows:
         (f)  During a state fiscal year the total amount of money
  that may be transferred by all nonprofit cooperative corporations
  under this section may not exceed 50 percent of the total money
  reported for that year by those nonprofit cooperative corporations
  [$2 million].  [No more than 20 percent of each nonprofit
  cooperative's funds eligible for delivery under this section shall
  be used for economic development.]  The comptroller shall adopt
  procedures to record the total amount of money transferred
  annually.
         SECTION 2.  This Act takes effect September 1, 2023.
 
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