85R27750 JJT-D
By: Simmons H.B. No. 40
Substitute the following for H.B. No. 40:
By: Phelan C.S.H.B. No. 40
A BILL TO BE ENTITLED
AN ACT
relating to the deposit of money received from the federal
government and the authority of the comptroller concerning related
funds and accounts.
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. Interest, other
earnings on money, earned credits, and indirect cost recoveries
received from the federal government shall be deposited to the
credit of 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 is used
for the purposes for which federal money is received.
(b) To facilitate the administration of federal money under
this section or other law, the comptroller may:
(1) designate or create a fund or account in the
treasury for the deposit of federal money and any interest or other
earnings on the federal money; or
(2) merge, consolidate, or segregate funds or accounts
or money deposited to funds or accounts.
(c) This section 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. To the extent
of any other conflict between this section and other law, this
section controls.
SECTION 2. This Act takes effect September 1, 2017.