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