H.B. No. 1595
1-1 AN ACT
1-2 relating to the use of certain funds in the unclaimed money fund
1-3 for economic development by counties.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 74.602(b), Property Code, is amended to
1-6 read as follows:
1-7 (b) Each fiscal year after deducting funds sufficient to pay
1-8 anticipated expenses and claims of the unclaimed money fund, the
1-9 state treasurer shall transfer:
1-10 (1) half of the balance of the unclaimed money fund to
1-11 the foundation school fund;
1-12 (2) $1.2 million to the state ethics fund; <and>
1-13 (3) to each county of the state that requests, an
1-14 amount equal to any capital credits in the fund, less anticipated
1-15 claims, that were delivered under this chapter to the state
1-16 treasurer by an electric cooperative corporation on behalf of the
1-17 corporation's members in that county, with the money to be used
1-18 only to carry out a program under Section 381.004, Local Government
1-19 Code; and
1-20 (4) the remainder to the General Revenue Fund.
1-21 SECTION 2. This Act takes effect September 1, 1995.
1-22 SECTION 3. The importance of this legislation and the
1-23 crowded condition of the calendars in both houses create an
1-24 emergency and an imperative public necessity that the
2-1 constitutional rule requiring bills to be read on three several
2-2 days in each house be suspended, and this rule is hereby suspended.