Enrolled Bill Summary

             House Bill 3175 amends the Government Code to authorize the comptroller to manage general revenue fund cash flow by transferring available cash, except constitutionally dedicated revenue, between funds that are managed by or in the custody of the comptroller. Previous law only allowed transfers between funds in the state treasury. The transferred available cash may not be appropriated by the legislature, except to return it to its original fund. The bill prohibits the comptroller from making an available cash transfer out of the Texas Tomorrow Fund to the general revenue fund. For FY2004 and FY2005, the bill appropriates general revenue funds to the comptroller in the amount needed to return transferred available cash to, and maintain the equity of, a nontreasury fund.

            Reason Given for Veto:  "I hereby veto House Bill No. 3175, which makes cash management appropriations for state fiscal years 2004 and 2005. I have also used my line item veto authority to veto a similar provision in Section 122 of House Bill No. 2425. These appropriations exceed the amount necessary at this time to reimburse anticipated borrowing."