| 1 | 1 | | 81R9339 SMH-F |
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| 2 | 2 | | By: West S.B. No. 1288 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the floodplain management account. |
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| 8 | 8 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 9 | 9 | | SECTION 1. Section 16.3161, Water Code, is amended to read |
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| 10 | 10 | | as follows: |
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| 11 | 11 | | Sec. 16.3161. FLOODPLAIN MANAGEMENT FUND [ACCOUNT]. |
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| 12 | 12 | | (a) The floodplain management fund [account] is a special fund in |
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| 13 | 13 | | the state treasury outside the general revenue fund. The fund is |
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| 14 | 14 | | composed of: |
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| 15 | 15 | | (1) money deposited to the credit of the fund |
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| 16 | 16 | | [account] under Section 251.004, Insurance Code; |
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| 17 | 17 | | (2) money directly appropriated to the board; [and] |
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| 18 | 18 | | (3) money from gifts or grants from the United States |
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| 19 | 19 | | government, local or regional governments, private sources, or |
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| 20 | 20 | | other sources; and |
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| 21 | 21 | | (4) interest earned on money credited to the fund. |
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| 22 | 22 | | (b) The fund [account] shall be administered by the board in |
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| 23 | 23 | | accordance with this section. |
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| 24 | 24 | | (c) The board may use the fund [account] to fund the |
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| 25 | 25 | | performance of the board's functions under Section 16.316. |
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| 26 | 26 | | (d) The board may invest, reinvest, and direct the |
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| 27 | 27 | | investment of any available money in the fund [account] as provided |
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| 28 | 28 | | by law for the investment of money under Section 404.024, |
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| 29 | 29 | | Government Code. |
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| 30 | 30 | | (e) Section 403.095, Government Code, does not apply to the |
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| 31 | 31 | | fund. |
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| 32 | 32 | | SECTION 2. Section 251.004(b), Insurance Code, is amended |
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| 33 | 33 | | to read as follows: |
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| 34 | 34 | | (b) Each state fiscal year, the comptroller shall |
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| 35 | 35 | | reallocate to the floodplain management fund [account] established |
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| 36 | 36 | | under Section 16.3161, Water Code, the first $3.05 million of the |
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| 37 | 37 | | maintenance taxes collected under Chapter 252 and deposited in the |
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| 38 | 38 | | general revenue fund. |
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| 39 | 39 | | SECTION 3. The floodplain management account established |
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| 40 | 40 | | under Section 16.3161, Water Code, is redesignated as the |
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| 41 | 41 | | floodplain management fund and re-created by this Act as a special |
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| 42 | 42 | | fund in the state treasury outside the general revenue fund, and the |
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| 43 | 43 | | revenue required by Section 251.004, Insurance Code, and Section |
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| 44 | 44 | | 16.3161, Water Code, to be reallocated to or deposited in the fund, |
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| 45 | 45 | | as applicable, is required by this Act to be reallocated to or |
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| 46 | 46 | | deposited in the fund for the purposes specified by Section |
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| 47 | 47 | | 16.3161. |
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| 48 | 48 | | SECTION 4. This Act takes effect immediately if it receives |
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| 49 | 49 | | a vote of two-thirds of all the members elected to each house, as |
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| 50 | 50 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 51 | 51 | | Act does not receive the vote necessary for immediate effect, this |
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| 52 | 52 | | Act takes effect September 1, 2009. |
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