| 1 | 1 | | H.B. No. 4246 |
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| 2 | 2 | | |
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| 3 | 3 | | |
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| 4 | 4 | | AN ACT |
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| 5 | 5 | | relating to delivery of certain unclaimed money for scholarships |
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| 6 | 6 | | for rural students, rural economic development, and energy |
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| 7 | 7 | | efficiency assistance. |
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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 74.3013(f), Property Code, is amended to |
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| 10 | 10 | | read as follows: |
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| 11 | 11 | | (f) During a state fiscal year the total amount of money |
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| 12 | 12 | | that may be transferred by all nonprofit cooperative corporations |
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| 13 | 13 | | under this section may not exceed 50 percent of the total money |
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| 14 | 14 | | reported for that year by those nonprofit cooperative corporations |
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| 15 | 15 | | [$2 million]. [No more than 20 percent of each nonprofit |
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| 16 | 16 | | cooperative's funds eligible for delivery under this section shall |
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| 17 | 17 | | be used for economic development.] The comptroller shall adopt |
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| 18 | 18 | | procedures to record the total amount of money transferred |
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| 19 | 19 | | annually. |
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| 20 | 20 | | SECTION 2. This Act takes effect September 1, 2023. |
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| 21 | 21 | | ______________________________ ______________________________ |
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| 22 | 22 | | President of the Senate Speaker of the House |
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| 23 | 23 | | I certify that H.B. No. 4246 was passed by the House on May 5, |
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| 24 | 24 | | 2023, by the following vote: Yeas 138, Nays 2, 2 present, not |
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| 25 | 25 | | voting. |
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| 26 | 26 | | ______________________________ |
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| 27 | 27 | | Chief Clerk of the House |
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| 28 | 28 | | I certify that H.B. No. 4246 was passed by the Senate on May |
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| 29 | 29 | | 22, 2023, by the following vote: Yeas 31, Nays 0. |
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| 30 | 30 | | ______________________________ |
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| 31 | 31 | | Secretary of the Senate |
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| 32 | 32 | | APPROVED: _____________________ |
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| 33 | 33 | | Date |
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| 34 | 34 | | _____________________ |
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| 35 | 35 | | Governor |
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