1-1 By: Oliveira, et al. H.B. No. 1335
1-2 (Senate Sponsor - Harris of Tarrant)
1-3 (In the Senate - Received from the House March 30, 1993;
1-4 April 6, 1993, read first time and referred to Committee on
1-5 Economic Development; April 22, 1993, reported favorably by the
1-6 following vote: Yeas 10, Nays 0; April 22, 1993, sent to printer.)
1-7 COMMITTEE VOTE
1-8 Yea Nay PNV Absent
1-9 Parker x
1-10 Lucio x
1-11 Ellis x
1-12 Haley x
1-13 Harris of Dallas x
1-14 Harris of Tarrant x
1-15 Leedom x
1-16 Madla x
1-17 Rosson x
1-18 Shapiro x
1-19 Wentworth x
1-20 A BILL TO BE ENTITLED
1-21 AN ACT
1-22 relating to the use of the advance interest trust fund to fund
1-23 certain programs administered by the Texas Employment Commission.
1-24 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-25 SECTION 1. Section 9c(a), Texas Unemployment Compensation
1-26 Act (Article 5221b-7c, Vernon's Texas Civil Statutes), is amended
1-27 to read as follows:
1-28 (a) The Advance Interest Trust Fund is established. The
1-29 fund is a trust fund in the custody of the State Treasurer and may
1-30 be used without appropriation by the Governor for the purpose of
1-31 paying interest incurred on advances from the federal Unemployment
1-32 Trust Fund, incurred on any bonds issued to reduce or avoid federal
1-33 advances to the unemployment compensation fund, and to repay
1-34 temporary transfers of surplus cash which may be made between this
1-35 fund and other funds. The State Treasurer and the Comptroller
1-36 shall transfer all income earned after April 1, 1983 <September 1,
1-37 1988>, from investment of the fund to the Unemployment Compensation
1-38 Special Administration Fund for the administration of the pay day
1-39 law (Article 5155, Revised Statutes), Texas Minimum Wage Act
1-40 (Article 5159d, Vernon's Texas Civil Statutes), and the child labor
1-41 law, Chapter 531, Acts of the 67th Legislature, Regular Session,
1-42 1981 (Article 5181.1, Vernon's Texas Civil Statutes). If the
1-43 Governor, upon the advice of the Commission, determines that funds
1-44 in the unemployment compensation fund will be depleted at the time
1-45 payment on an advance from the federal Unemployment Trust Fund is
1-46 due, and that depletion of the funds will cause the loss of some
1-47 portion of the credit received by employers against their federal
1-48 unemployment tax rate, or if the Governor determines that payment
1-49 of interest on a federal loan can be avoided by keeping the balance
1-50 of the unemployment compensation fund positive, the Governor may
1-51 authorize the Commission to transfer money from the Advance
1-52 Interest Trust Fund to the unemployment compensation fund.
1-53 SECTION 2. The importance of this legislation and the
1-54 crowded condition of the calendars in both houses create an
1-55 emergency and an imperative public necessity that the
1-56 constitutional rule requiring bills to be read on three several
1-57 days in each house be suspended, and this rule is hereby suspended,
1-58 and that this Act take effect and be in force from and after its
1-59 passage, and it is so enacted.
1-60 * * * * *
1-61 Austin,
1-62 Texas
1-63 April 22, 1993
1-64 Hon. Bob Bullock
1-65 President of the Senate
1-66 Sir:
1-67 We, your Committee on Economic Development to which was referred
1-68 H.B. No. 1335, have had the same under consideration, and I am
2-1 instructed to report it back to the Senate with the recommendation
2-2 that it do pass and be printed.
2-3 Parker,
2-4 Chairman
2-5 * * * * *
2-6 WITNESSES
2-7 FOR AGAINST ON
2-8 ___________________________________________________________________
2-9 Name: C. Ed Davis x
2-10 Representing: Texas Employment Commission
2-11 City: Austin
2-12 -------------------------------------------------------------------