1-1 By: Harris of Tarrant S.B. No. 363
1-2 (In the Senate - Filed February 16, 1993; February 17, 1993,
1-3 read first time and referred to Committee on Economic Development;
1-4 March 9, 1993, reported favorably by the following vote: Yeas 10,
1-5 Nays 0; March 9, 1993, sent to printer.)
1-6 COMMITTEE VOTE
1-7 Yea Nay PNV Absent
1-8 Parker x
1-9 Lucio x
1-10 Ellis x
1-11 Haley x
1-12 Harris of Dallas x
1-13 Harris of Tarrant x
1-14 Leedom x
1-15 Madla x
1-16 Rosson x
1-17 Shapiro x
1-18 Wentworth x
1-19 A BILL TO BE ENTITLED
1-20 AN ACT
1-21 relating to the use of the Advance Interest Trust Fund to fund
1-22 certain programs administered by the Texas Employment Commission.
1-23 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-24 SECTION 1. Subsection (a), Section 9c, Texas Unemployment
1-25 Compensation Act (Article 5221b-7c, Vernon's Texas Civil Statutes),
1-26 is amended to read as follows:
1-27 (a) The Advance Interest Trust Fund is established. The
1-28 fund is a trust fund in the custody of the State Treasurer and may
1-29 be used without appropriation by the Governor for the purpose of
1-30 paying interest incurred on advances from the federal Unemployment
1-31 Trust Fund, incurred on any bonds issued to reduce or avoid federal
1-32 advances to the unemployment compensation fund, and to repay
1-33 temporary transfers of surplus cash which may be made between this
1-34 fund and other funds. The State Treasurer and the Comptroller
1-35 shall transfer all income earned after April 1, 1983 <September 1,
1-36 1988>, from investment of the fund to the Unemployment Compensation
1-37 Special Administration Fund for the administration of the pay day
1-38 law (Article 5155, Revised Statutes), Texas Minimum Wage Act
1-39 (Article 5159d, Vernon's Texas Civil Statutes), and the child labor
1-40 law, Chapter 531, Acts of the 67th Legislature, Regular Session,
1-41 1981 (Article 5181.1, Vernon's Texas Civil Statutes). If the
1-42 Governor, upon the advice of the Commission, determines that funds
1-43 in the unemployment compensation fund will be depleted at the time
1-44 payment on an advance from the federal Unemployment Trust Fund is
1-45 due, and that depletion of the funds will cause the loss of some
1-46 portion of the credit received by employers against their federal
1-47 unemployment tax rate, or if the Governor determines that payment
1-48 of interest on a federal loan can be avoided by keeping the balance
1-49 of the unemployment compensation fund positive, the Governor may
1-50 authorize the Commission to transfer money from the Advance
1-51 Interest Trust Fund to the unemployment compensation fund.
1-52 SECTION 2. The importance of this legislation and the
1-53 crowded condition of the calendars in both houses create an
1-54 emergency and an imperative public necessity that the
1-55 constitutional rule requiring bills to be read on three several
1-56 days in each house be suspended, and this rule is hereby suspended,
1-57 and that this Act take effect and be in force from and after its
1-58 passage, and it is so enacted.
1-59 * * * * *
1-60 Austin,
1-61 Texas
1-62 March 9, 1993
1-63 Hon. Bob Bullock
1-64 President of the Senate
1-65 Sir:
1-66 We, your Committee on Economic Development to which was referred
1-67 S.B. No. 363, have had the same under consideration, and I am
1-68 instructed to report it back to the Senate with the recommendation
2-1 that it do pass and be printed.
2-2 Parker,
2-3 Chairman
2-4 * * * * *
2-5 WITNESSES
2-6 FOR AGAINST ON
2-7 ___________________________________________________________________
2-8 Name: William Grossenbacher x
2-9 Representing: TX Employment Commission
2-10 City: Austin
2-11 -------------------------------------------------------------------
2-12 Name: C. Ed Davis x
2-13 Representing: TEC
2-14 City: Austin
2-15 -------------------------------------------------------------------
2-16 Name: Jim Hine x
2-17 Representing: TEC
2-18 City: Austin
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