Enrolled Bill Summary

            House Bill 3088 updates a "funds sweep" mechanism in the Government Code to provide that dedicated revenues on August 31, 2003, that are estimated to exceed the amount appropriated by the General Appropriations Act and other enactments of the 77th Legislature are available temporarily for spending for general governmental purposes and for appropriations certification by the comptroller. This provision takes effect September 1, 2001.

            The bill provides generally that a fund or account created or re-created in the state treasury by an act of the 77th Legislature, or a dedication or rededication accomplished by an act of the 77th Legislature, is abolished on the later of August 27, 2001, or the effective date of such act. Exceptions include certain previously exempt dedications, funds, and accounts, as well as those from 2001 enactments involving court costs, license plate fees, bond funds and pledged funds, trust funds or dedicated revenue deposited to trust funds, and federal funds for which separate accounting is required by federal law. The bill also exempts from such abolishment funds or accounts created or re-created, or revenue dedicated or rededicated, by proposed constitutional amendments on the 2001 or 2002 ballot. It lists numerous other exemptions from specified enactments of the 77th Legislature, exempts the young farmer loan guarantee account and Pan American Games trust fund, amends the Utilities Code to apply like exemptions to the telecommunications infrastructure fund and system benefit fund, and amends the Labor Code to make the holding fund a dedicated account. These provisions take effect June 17, 2001.