Bill Text: TX SB517 | 2011-2012 | 82nd Legislature | Introduced

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Bill Title: Relating to the appropriation of certain unclaimed money.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2011-04-04 - Left pending in committee [SB517 Detail]

Download: Texas-2011-SB517-Introduced.html

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82R4409 TJS-F
By: Watson S.B. No. 517

A BILL TO BE ENTITLED
AN ACT
relating to the appropriation of certain unclaimed money.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 74.603, Property Code, is amended to
read as follows:
Sec. 74.603. AUDIT; APPROPRIATION. (a) The unclaimed money
received under this chapter or any other statute requiring the
delivery of unclaimed property to the comptroller is subject to
audit by the State Auditor and to appropriation by the legislature
for enforcing and administering this title.
(b) Unclaimed money received under this chapter in an amount
equal to or less than $5 and held by the comptroller for at least 20
years may be appropriated for the support of the Texas Save and
Match Program under Section 54.7521, Education Code, and, in
accordance with the General Appropriations Act, transferred to the
Prepaid Higher Education Tuition Board for that purpose.
SECTION 2. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2011.