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A BILL TO BE ENTITLED
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AN ACT
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relating to delivery of certain unclaimed money for scholarships |
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for rural students, rural economic development, and energy |
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efficiency assistance. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 74.3013(f), Property Code, is amended to |
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read as follows: |
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(f) During a state fiscal year the total amount of money |
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that may be transferred by all nonprofit cooperative corporations |
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under this section may not exceed 50 percent of the total money |
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reported for that year by those nonprofit cooperative corporations |
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[$2 million]. [No more than 20 percent of each nonprofit |
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cooperative's funds eligible for delivery under this section shall |
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be used for economic development.] The comptroller shall adopt |
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procedures to record the total amount of money transferred |
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annually. |
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SECTION 2. This Act takes effect September 1, 2023. |