Bill Text: TX HB3601 | 2015-2016 | 84th Legislature | Introduced

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Bill Title: Relating to the payment of interest by state agencies.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Engrossed - Dead) 2015-05-13 - Referred to Business & Commerce [HB3601 Detail]

Download: Texas-2015-HB3601-Introduced.html

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84R5774 AAF-F
By: Darby H.B. No. 3601

A BILL TO BE ENTITLED
AN ACT
relating to the payment of interest by state agencies.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 2251.026(j), Government Code, is amended
to read as follows:
(j) No interest accrues or may be paid under this section on
a payment if the total amount of interest that would otherwise have
accrued is equal to or less than $5 [and the payment is made from the
institutional funds of an institution of higher education as
defined by Section 61.003, Education Code].
SECTION 2. The change in law made by this Act applies only
to the accrual of interest under Section 2251.026, Government Code,
on or after the effective date of this Act. Interest accrued before
the effective date of this Act is governed by the law as it existed
immediately before that date, and that law is continued in effect
for that purpose.
SECTION 3. This Act takes effect September 1, 2015.