Enrolled Bill Summary

Senate Bill 736 requires that all fees and funds collected by the Texas State Board of Public Accountancy, the Texas Board of Professional Engineers, and the Texas Board of Architectural Engineers while participating in the self-directed semi-independent agency pilot project are to be deposited in interest-bearing accounts in the Texas Treasury Safekeeping Trust Company. The bill requires the comptroller to contract with the agency for the maintenance of the deposit accounts under terms comparable to a contract between a commercial banking institution and its customers. It appropriates an amount equal to 50 percent of each agency's appropriated amount for fiscal year 2001 for use after the conclusion of that fiscal year and requires the agency to repay that amount to the general revenue fund as funds become available.