Bill Text: TX HB3626 | 2019-2020 | 86th Legislature | Introduced
Bill Title: Relating to the comptroller's administration of federal money and certain general revenue and to the use of certain general revenue for property tax relief.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2019-03-19 - Referred to Appropriations [HB3626 Detail]
Download: Texas-2019-HB3626-Introduced.html
86R13017 KJE-D | ||
By: Schaefer | H.B. No. 3626 |
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relating to the comptroller's administration of federal money and | ||
certain general revenue and to the use of certain general revenue | ||
for property tax relief. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Subchapter B, Chapter 403, Government Code, is | ||
amended by adding Section 403.0123 to read as follows: | ||
Sec. 403.0123. 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. 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. Section 403.109, Government Code, is amended by | ||
adding Subsections (e), (f), and (g) to read as follows: | ||
(e) Each time the comptroller, as provided by Section | ||
49-g(b) or (c), Article III, Texas Constitution, reduces an amount | ||
of general revenue that otherwise is to be transferred to the | ||
economic stabilization fund, the comptroller at the same time shall | ||
transfer to the credit of the property tax relief fund an amount of | ||
general revenue equal to the amount by which the comptroller | ||
reduced the amount of the transfer to the economic stabilization | ||
fund. | ||
(f) Each time the comptroller, as provided by Section | ||
49-g(i), Article III, Texas Constitution, credits to general | ||
revenue interest otherwise due to the economic stabilization fund, | ||
the comptroller at the same time shall transfer to the credit of the | ||
property tax relief fund an amount of general revenue equal to the | ||
amount of the interest credited to general revenue. | ||
(g) Notwithstanding any other provision of this section, | ||
money deposited to the credit of the property tax relief fund under | ||
Subsection (e) or (f) may be appropriated only to the Texas | ||
Education Agency for use in providing property tax relief through | ||
reduction of the state compression percentage, as defined by | ||
Section 42.2516(a), Education Code. | ||
SECTION 3. This Act takes effect September 1, 2019. |