By: Armbrister S.B. No. 301
A BILL TO BE ENTITLED
AN ACT
1-1 relating to the disposition of interest received from investments
1-2 of money in the funds and accounts in the charge of the state
1-3 treasurer.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 404.071(a), Government Code, is amended
1-6 to read as follows:
1-7 (a) Interest received from investments of money in funds and
1-8 accounts in the charge of the treasurer shall be allocated on a
1-9 monthly basis as follows:
1-10 (1) the pro rata portion of the interest received due
1-11 to each constitutional fund shall be credited to that fund; <and>
1-12 (2) the pro rata portion of the interest received due
1-13 to the game, fish, and water safety fund shall be credited to that
1-14 fund; and
1-15 (3) <(2)> the remainder of the interest received,
1-16 except the portion required by other statutes to be credited on a
1-17 pro rata basis to protested payments, shall be credited to the
1-18 general revenue fund.
1-19 SECTION 2. The importance of this legislation and the
1-20 crowded condition of the calendars in both houses create an
1-21 emergency and an imperative public necessity that the
1-22 constitutional rule requiring bills to be read on three several
1-23 days in each house be suspended, and this rule is hereby suspended,
2-1 and that this Act take effect and be in force from and after its
2-2 passage, and it is so enacted.