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A BILL TO BE ENTITLED
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AN ACT
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relating to the comptroller's administration of federal money and |
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certain general revenue and to the use of certain general revenue |
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for property tax relief. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter B, Chapter 403, Government Code, is |
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amended by adding Section 403.0123 to read as follows: |
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Sec. 403.0123. FEDERAL MONEY DEPOSITED TO TREASURY. (a) |
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The comptroller may not deposit to the credit of the general revenue |
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fund money received from the federal government. The comptroller |
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shall account for and administer federal money separately from |
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money in the general revenue fund in a manner that ensures federal |
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money is used for the purposes for which federal money is received. |
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(b) To facilitate the administration of federal money under |
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this section or other law, the comptroller may: |
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(1) designate or create a fund or account in the |
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treasury for the deposit of federal money and any interest or other |
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earnings on the federal money; or |
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(2) merge, consolidate, or segregate funds or accounts |
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or money deposited to funds or accounts. |
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(c) This section prevails over other general law that |
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provides for money received from the federal government, or |
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earnings on money received from the federal government, to be |
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deposited to the credit of the general revenue fund. To the extent |
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of any other conflict between this section and other law, this |
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section controls. |
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SECTION 2. Section 403.109, Government Code, is amended by |
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adding Subsections (e), (f), and (g) to read as follows: |
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(e) Each time the comptroller, as provided by Section |
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49-g(b) or (c), Article III, Texas Constitution, reduces an amount |
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of general revenue that otherwise is to be transferred to the |
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economic stabilization fund, the comptroller at the same time shall |
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transfer to the credit of the property tax relief fund an amount of |
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general revenue equal to the amount by which the comptroller |
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reduced the amount of the transfer to the economic stabilization |
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fund. |
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(f) Each time the comptroller, as provided by Section |
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49-g(i), Article III, Texas Constitution, credits to general |
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revenue interest otherwise due to the economic stabilization fund, |
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the comptroller at the same time shall transfer to the credit of the |
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property tax relief fund an amount of general revenue equal to the |
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amount of the interest credited to general revenue. |
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(g) Notwithstanding any other provision of this section, |
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money deposited to the credit of the property tax relief fund under |
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Subsection (e) or (f) may be appropriated only to the Texas |
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Education Agency for use in providing property tax relief through |
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reduction of the state compression percentage, as defined by |
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Section 42.2516(a), Education Code. |
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SECTION 3. This Act takes effect September 1, 2019. |