| Old | New | Differences | |
|---|---|---|---|
| 1 | - | ||
| 1 | + | 85R11765 JJT-D | |
| 2 | 2 | By: Simmons H.B. No. 40 | |
| 3 | - | Substitute the following for H.B. No. 40: | |
| 4 | - | By: Phelan C.S.H.B. No. 40 | |
| 5 | 3 | ||
| 6 | 4 | ||
| 7 | 5 | A BILL TO BE ENTITLED | |
| 8 | 6 | AN ACT | |
| 9 | 7 | relating to the deposit of money received from the federal | |
| 10 | 8 | government and the authority of the comptroller concerning related | |
| 11 | 9 | funds and accounts. | |
| 12 | 10 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 13 | 11 | SECTION 1. Subchapter B, Chapter 403, Government Code, is | |
| 14 | 12 | amended by adding Section 403.0125 to read as follows: | |
| 15 | 13 | Sec. 403.0125. FEDERAL MONEY DEPOSITED TO TREASURY. (a) | |
| 16 | 14 | The comptroller may not deposit to the credit of the general revenue | |
| 17 | - | fund money received from the federal government. Interest, other | |
| 18 | - | earnings on money, earned credits, and indirect cost recoveries | |
| 19 | - | received from the federal government shall be deposited to the | |
| 20 | - | credit of the general revenue fund. The comptroller shall account | |
| 21 | - | for and administer federal money separately from money in the | |
| 22 | - | general revenue fund in a manner that ensures federal money is used | |
| 23 | - | for the purposes for which federal money is received. | |
| 15 | + | fund money received from the federal government or accrued interest | |
| 16 | + | or other earnings on money received from the federal government. | |
| 17 | + | The comptroller shall account for and administer federal money | |
| 18 | + | separately from money in the general revenue fund in a manner that | |
| 19 | + | ensures federal money and earnings on federal money are used for the | |
| 20 | + | purposes for which federal money is received. | |
| 24 | 21 | (b) To facilitate the administration of federal money under | |
| 25 | 22 | this section or other law, the comptroller may: | |
| 26 | 23 | (1) designate or create a fund or account in the | |
| 27 | 24 | treasury for the deposit of federal money and any interest or other | |
| 28 | - | earnings on the federal money; | |
| 25 | + | earnings on the federal money; | |
| 29 | 26 | (2) merge, consolidate, or segregate funds or accounts | |
| 30 | - | or money deposited to funds or accounts. | |
| 27 | + | or money deposited to funds or accounts; or | |
| 28 | + | (3) abolish a fund or an account in the general revenue | |
| 29 | + | fund to which federal money has been deposited in accordance with | |
| 30 | + | other law. | |
| 31 | 31 | (c) This section prevails over other general law that | |
| 32 | 32 | provides for money received from the federal government, or | |
| 33 | 33 | earnings on money received from the federal government, to be | |
| 34 | - | deposited to the credit of the general revenue fund. To the extent | |
| 35 | - | of any other conflict between this section and other law, this | |
| 36 | - | section controls. | |
| 34 | + | deposited to the credit of the general revenue fund or to the credit | |
| 35 | + | of an account in the general revenue fund. To the extent of any | |
| 36 | + | other conflict between this section and other law, this section | |
| 37 | + | controls. | |
| 37 | 38 | SECTION 2. This Act takes effect September 1, 2017. |