| 1 | 1 | | 85R11765 JJT-D |
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| 2 | 2 | | By: Simmons H.B. No. 3720 |
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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 deposit of money received from the federal |
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| 8 | 8 | | government and the authority of the comptroller concerning related |
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| 9 | 9 | | funds and accounts. |
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| 10 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 11 | 11 | | SECTION 1. Subchapter B, Chapter 403, Government Code, is |
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| 12 | 12 | | amended by adding Section 403.0125 to read as follows: |
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| 13 | 13 | | Sec. 403.0125. FEDERAL MONEY DEPOSITED TO TREASURY. (a) |
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| 14 | 14 | | The comptroller may not deposit to the credit of the general revenue |
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| 15 | 15 | | fund money received from the federal government or accrued interest |
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| 16 | 16 | | or other earnings on money received from the federal government. |
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| 17 | 17 | | The comptroller shall account for and administer federal money |
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| 18 | 18 | | separately from money in the general revenue fund in a manner that |
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| 19 | 19 | | ensures federal money and earnings on federal money are used for the |
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| 20 | 20 | | purposes for which federal money is received. |
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| 21 | 21 | | (b) To facilitate the administration of federal money under |
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| 22 | 22 | | this section or other law, the comptroller may: |
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| 23 | 23 | | (1) designate or create a fund or account in the |
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| 24 | 24 | | treasury for the deposit of federal money and any interest or other |
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| 25 | 25 | | earnings on the federal money; |
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| 26 | 26 | | (2) merge, consolidate, or segregate funds or accounts |
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| 27 | 27 | | or money deposited to funds or accounts; or |
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| 28 | 28 | | (3) abolish a fund or an account in the general revenue |
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| 29 | 29 | | fund to which federal money has been deposited in accordance with |
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| 30 | 30 | | other law. |
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| 31 | 31 | | (c) This section prevails over other general law that |
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| 32 | 32 | | provides for money received from the federal government, or |
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| 33 | 33 | | earnings on money received from the federal government, to be |
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| 34 | 34 | | deposited to the credit of the general revenue fund or to the credit |
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| 35 | 35 | | of an account in the general revenue fund. To the extent of any |
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| 36 | 36 | | other conflict between this section and other law, this section |
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| 37 | 37 | | controls. |
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| 38 | 38 | | SECTION 2. This Act takes effect September 1, 2017. |
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