Bill Text: TX HB8 | 2015-2016 | 84th Legislature | Comm Sub
Bill Title: Relating to the deposit of money received from the federal government and the authority of the comptroller concerning related funds and accounts.
Sponsorship: Partisan Bill (Republican 8)
Status: (Engrossed - Dead) 2015-05-23 - Committee report printed and distributed [HB8 Detail]
Download: Texas-2015-HB8-Comm_Sub.html
| By: Otto, et al. (Senate Sponsor - Nelson) | H.B. No. 8 | |
| (In the Senate - Received from the House April 9, 2015; | ||
| April 23, 2015, read first time and referred to Committee on | ||
| Finance; May 22, 2015, reported adversely, with favorable | ||
| Committee Substitute by the following vote: Yeas 13, Nays 0; | ||
| May 22, 2015, sent to printer.) | ||
| COMMITTEE SUBSTITUTE FOR H.B. No. 8 | By: Nelson | |
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| 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, 2015. | ||
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