Bill Text: TX HB40 | 2017-2018 | 85th Legislature | Comm Sub
Bill Title: Relating to the deposit of money received from the federal government and the authority of the comptroller concerning related funds and accounts.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2017-05-09 - Placed on General State Calendar [HB40 Detail]
Download: Texas-2017-HB40-Comm_Sub.html
| 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 | ||
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| 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. | ||
