Bill Text: TX HB8 | 2015-2016 | 84th Legislature | Comm Sub
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 8-0)
Status: (Engrossed - Dead) 2015-05-23 - Committee report printed and distributed [HB8 Detail]
Download: Texas-2015-HB8-Comm_Sub.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 8-0)
Status: (Engrossed - Dead) 2015-05-23 - Committee report printed and distributed [HB8 Detail]
Download: Texas-2015-HB8-Comm_Sub.html
84R6025 JJT-D | ||
By: Otto, et al. | H.B. No. 8 |
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relating to the deposit of money received from the federal | ||
government. | ||
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. | ||
This subsection 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. 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) The comptroller may establish a special fund in the | ||
treasury for the purpose of holding money received from the federal | ||
government for deposit to the state treasury and any interest or | ||
other earnings on the federal money. | ||
SECTION 2. This Act takes effect September 1, 2015. |