By: Creighton (Senate Sponsor - West) H.B. No. 2536
(In the Senate - Received from the House May 12, 2009;
May 13, 2009, read first time and referred to Committee on
Intergovernmental Relations; May 22, 2009, reported favorably by
the following vote: Yeas 5, Nays 0; May 22, 2009, sent to
printer.)
A BILL TO BE ENTITLED
AN ACT
relating to the floodplain management account.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 16.3161, Water Code, is amended to read
as follows:
Sec. 16.3161. FLOODPLAIN MANAGEMENT FUND [ACCOUNT].
(a) The floodplain management fund [account] is a special fund in
the state treasury outside the general revenue fund. The fund is
composed of:
(1) money deposited to the credit of the fund
[account] under Section 251.004, Insurance Code;
(2) money directly appropriated to the board; [and]
(3) money from gifts or grants from the United States
government, local or regional governments, private sources, or
other sources; and
(4) interest earned on money credited to the fund.
(b) The fund [account] shall be administered by the board in
accordance with this section.
(c) The board may use the fund [account] to fund the
performance of the board's functions under Section 16.316.
(d) The board may invest, reinvest, and direct the
investment of any available money in the fund [account] as provided
by law for the investment of money under Section 404.024,
Government Code.
(e) Section 403.095, Government Code, does not apply to the
fund.
SECTION 2. Section 251.004(b), Insurance Code, is amended
to read as follows:
(b) Each state fiscal year, the comptroller shall
reallocate to the floodplain management fund [account] established
under Section 16.3161, Water Code, the first $3.05 million of the
maintenance taxes collected under Chapter 252 and deposited in the
general revenue fund.
SECTION 3. The floodplain management account established
under Section 16.3161, Water Code, is redesignated as the
floodplain management fund and re-created by this Act as a special
fund in the state treasury outside the general revenue fund, and the
revenue required by Section 251.004, Insurance Code, and Section
16.3161, Water Code, to be reallocated to or deposited in the fund,
as applicable, is required by this Act to be reallocated to or
deposited in the fund for the purposes specified by Section
16.3161.
SECTION 4. 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, 2009.
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