S.B. No. 384
                                        AN ACT
    1-1  relating to the management and control of state finances and
    1-2  generating additional revenue in connection with the unclaimed
    1-3  money fund; authorizing an appropriation.
    1-4        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-5       ARTICLE 1.  MANAGEMENT AND CONTROL OF CERTAIN STATE FUNDS
    1-6        SECTION 1.01.  Subsections (g) and (h), Section 17, Texas
    1-7  Pharmacy Act (Article 4542a-1, Vernon's Texas Civil Statutes), are
    1-8  amended to read as follows:
    1-9        (g)  Revenue, other than fines, collected under this Act
   1-10  shall be deposited to the credit of the state pharmacy account in
   1-11  the general revenue fund in <constitutes a fund outside> the state
   1-12  treasury.  Expenses <from which the expenses> of administering this
   1-13  Act shall be <are> paid out of the state pharmacy account.  Money
   1-14  in the account <fund> may not be expended except pursuant to
   1-15  specific legislative appropriation in the General Appropriations
   1-16  Act.  <An appropriation is not required for the investment of the
   1-17  fund by the board and for payment of customary fees or charges in
   1-18  connection with the investment.>  Investment income shall be
   1-19  deposited in the account <fund>.  The fines collected under this
   1-20  Act shall be deposited to the credit of the general revenue fund
   1-21  and may not be used for the administration of this Act.  The board
   1-22  shall defray all expenses under this Act from fees provided in this
   1-23  Act, and the State of Texas shall never be liable for the
   1-24  compensation or expenses of any member of the board, or its
    2-1  officers or employees, or any other expenses thereof.  The board's
    2-2  books and records are subject to audit by the state auditor in
    2-3  accordance with Chapter 321, Government Code.
    2-4        (h)  The board may receive and expend funds, in addition to
    2-5  funds collected under Subsection (g) of this section, from parties
    2-6  other than the state in accordance with state law.  Funds received
    2-7  shall be deposited to the credit of the state pharmacy account in
    2-8  the general revenue fund.
    2-9        SECTION 1.02.  Subsection (i), Section 27A, Texas Pharmacy
   2-10  Act (Article 4542a-1, Vernon's Texas Civil Statutes), is amended to
   2-11  read as follows:
   2-12        (i)  Funds and surcharges collected under this section shall
   2-13  be deposited in the account <fund> created under Subsection (g) of
   2-14  Section 17 of this Act, and may be used by the board to administer
   2-15  the program authorized by this section, including the provision of
   2-16  initial evaluation and referral services of a qualified health
   2-17  professional to an impaired pharmacist or pharmacy student and to
   2-18  pay the administrative costs incurred by the board in connection
   2-19  with that funding, but not for costs incurred for treatment or
   2-20  rehabilitation subsequent to such initial evaluation and referral
   2-21  services.
   2-22        SECTION 1.03.  Subsection (k), Section 2.09, Medical Practice
   2-23  Act (Article 4495b, Vernon's Texas Civil Statutes), is amended to
   2-24  read as follows:
   2-25        (k)  The board shall establish by rule a reasonable charge
   2-26  for those fees not specifically determined but authorized by this
   2-27  Act.  The board may not waive collection of any fee or penalty.
    3-1  The board shall place all fees received under authority of this
    3-2  Act, not otherwise specified, into the medical licensing fund in
    3-3  the state treasury.  The board is authorized and shall by annual
    3-4  budget determine the manner of handling the funds and the purpose,
    3-5  consistent with this Act, for which the same may be used.  The
    3-6  budgeted expenses authorized by the board shall be paid out of
    3-7  funds received by the board and are not <be> a charge upon the
    3-8  general revenue of the state <nor paid from the general revenue>.
    3-9        SECTION 1.04.  Subchapter B, Medical Practice Act (Article
   3-10  4495b, Vernon's Texas Civil Statutes), is amended by adding Section
   3-11  2.10 to read as follows:
   3-12        Sec. 2.10.  CREATION OF FUNDS.  (a)  The medical licensing
   3-13  fund is created as an account in the general revenue fund.  Unless
   3-14  otherwise provided by this Act, all fees, charges, and penalties,
   3-15  other than registration fees, received by the board shall be
   3-16  deposited in the state treasury to the credit of the medical
   3-17  licensing fund.
   3-18        (b)  The medical registration fund is created as an account
   3-19  in the general revenue fund.  All registration fees received under
   3-20  this Act shall be deposited in the state treasury to the credit of
   3-21  the medical registration fund.
   3-22        SECTION 1.05.  Section 771.051, Health and Safety Code, is
   3-23  amended to read as follows:
   3-24        Sec. 771.051.  Powers and Duties of Advisory Commission.
   3-25  (a)  The advisory commission shall:
   3-26              (1)  administer the implementation of statewide 9-1-1
   3-27  service;
    4-1              (2)  develop minimum performance standards for
    4-2  equipment and operation of 9-1-1 service to be followed in
    4-3  developing regional plans under Section 771.055, including
    4-4  requirements that the plans provide for:
    4-5                    (A)  automatic number identification by which the
    4-6  telephone number of the caller is automatically identified at the
    4-7  public safety answering point receiving the call; and
    4-8                    (B)  other features the commission considers
    4-9  appropriate;
   4-10              (3)  examine and approve or disapprove regional plans
   4-11  as provided by Section 771.056;
   4-12              (4)  recommend minimum training standards and provide
   4-13  assistance in the establishment and operation of 9-1-1 service;
   4-14  <and>
   4-15              (5)  allocate money to prepare and operate regional
   4-16  plans as provided by Section 771.056; and
   4-17              (6)  accept, receive, and deposit in its account in the
   4-18  general revenue fund gifts and grants from public and private
   4-19  entities.  Gifts and grants may be used for the purposes of the
   4-20  commission.
   4-21        (b)  The advisory commission shall comply with state laws
   4-22  requiring state agencies, boards, or commissions generally to
   4-23  submit appropriations requests to the Legislative Budget Board and
   4-24  the governor and to develop a strategic plan for operations.
   4-25        SECTION 1.06.  Subsection (e), Section 771.072, Health and
   4-26  Safety Code, is amended to read as follows:
   4-27        (e)  The advisory commission shall deposit <manage> the
    5-1  surcharges and any prior balances in an account in the general
    5-2  revenue fund in <outside> the state treasury until they are
    5-3  allocated to regional planning commissions.  From that account,
    5-4  <The advisory commission may retain from the surcharges> the amount
    5-5  necessary for the commission to fund approved plans of regional
    5-6  planning commissions and to carry out its duties under this chapter
    5-7  shall be appropriated to the commission.
    5-8        SECTION 1.07.  Section 403.096, Government Code, is amended
    5-9  by adding Subsection (i) to read as follows:
   5-10        (i)  In addition to other information included in its report
   5-11  under this section, the committee shall review funds held outside
   5-12  the state treasury by state agencies and institutions of higher
   5-13  education and make recommendations on the disposition of those
   5-14  funds.  Recommendations to the 74th Legislature shall include an
   5-15  analysis of the use of funds held outside the state treasury and
   5-16  the advisability of moving those funds into the treasury.  As part
   5-17  of the report, the committee should propose guidelines that could
   5-18  be used in determining when funds should be held locally in bank
   5-19  accounts and when funds should be deposited in the state treasury.
   5-20  This subsection expires September 1, 1995.
   5-21        SECTION 1.08.  This article takes effect immediately, except
   5-22  that Sections 1.01, 1.02, 1.03, 1.04, and 1.06 of this article take
   5-23  effect August 31, 1994.
   5-24                   ARTICLE 2.  FUND BALANCES--BONDS
   5-25        SECTION 2.01.  Section 4, Chapter 696, Acts of the 70th
   5-26  Legislature, Regular Session, 1987 (Article 601d-1, Vernon's Texas
   5-27  Civil Statutes), is amended by adding Subsection (f) to read as
    6-1  follows:
    6-2        (f)  The authority shall provide an accurate estimate of
    6-3  interest and sinking fund balances available for payment of debt
    6-4  service on general obligation bonds to the Legislative Budget Board
    6-5  and the Governor's Office of Budget and Planning not later than
    6-6  January 1 of each odd-numbered year.
    6-7        SECTION 2.02.  This article takes effect immediately.
    6-8                   ARTICLE 3.  UNCLAIMED MONEY FUND
    6-9        SECTION 3.01.  Subsections (b) through (g), Section 72.101,
   6-10  Property Code, are amended to read as follows:
   6-11        (b)(1)  The three-year period leading to a presumption of
   6-12  abandonment of stock or another intangible ownership interest in a
   6-13  business association, the existence of which is evidenced by
   6-14  records available to the association, commences on the first date
   6-15  that either a sum payable as a result of the ownership interest is
   6-16  unclaimed by the owner or a communication to the owner is returned
   6-17  undelivered by the United States Postal Service.
   6-18              (2)  The running of the three-year period of
   6-19  abandonment ceases immediately on the exercise of an act of
   6-20  ownership interest or sum payable or a communication with the
   6-21  association as evidenced by a memorandum or other record on file
   6-22  with the association or its agents.
   6-23              (3)  At the time an ownership is presumed abandoned
   6-24  under this section, any sum then held for interest or owing to the
   6-25  owner as a result of the interest and not previously presumed
   6-26  abandoned is presumed abandoned.
   6-27              (4)  Any stock or other intangible ownership interest
    7-1  enrolled in a plan that provides for the automatic reinvestment of
    7-2  dividends, distributions, or other sums payable as a result of the
    7-3  ownership interest is subject to the presumption of abandonment as
    7-4  provided by this section.  <Except as provided by Subsections (d),
    7-5  (e), and (g), stock or another intangible ownership interest in a
    7-6  business association, the existence of which is evidenced by
    7-7  records available to the association, is presumed abandoned if:>
    7-8              <(1)  a dividend, distribution, or other sum payable as
    7-9  a result of the interest has remained unclaimed by the owner for
   7-10  three years and the owner within three years has not:>
   7-11                    <(A)  communicated in writing with the
   7-12  association regarding the interest or a dividend, distribution, or
   7-13  other sum payable as a result of the interest; or>
   7-14                    <(B)  otherwise communicated with the association
   7-15  regarding the interest or a dividend, distribution, or other sum
   7-16  payable as a result of the interest, as evidenced by a memorandum
   7-17  or other record on file with the association prepared by the
   7-18  association or its agents; and>
   7-19              <(2)  the business association does not know the
   7-20  location of the owner at the end of the three-year period.>
   7-21        <(c)  The period leading to a presumption of abandonment
   7-22  under Subsection (b) commences on the date that a communication
   7-23  from the association to the owner is returned undelivered by the
   7-24  United States Postal Service.>
   7-25        <(d)  At the expiration of a three-year period following the
   7-26  failure of the owner to claim a dividend, distribution, or other
   7-27  sum payable to the owner as a result of the interest, the interest
    8-1  is not presumed abandoned unless there have been at least three
    8-2  dividends, distributions, or other sums paid during the period,
    8-3  none of which has been claimed by the owner.  If three dividends,
    8-4  distributions, or other sums are paid during the three-year period,
    8-5  the period leading to a presumption of abandonment commences on the
    8-6  date that payment of the first unclaimed dividend, distribution, or
    8-7  other sum became due and payable.  If three dividends,
    8-8  distributions, or other sums are not paid during the presumptive
    8-9  period, the period continues to run until there have been three
   8-10  dividends, distributions, or other sums that have not been claimed
   8-11  by the owner.>
   8-12        <(e)  The running of the three-year period of abandonment
   8-13  ceases immediately upon the occurrence of a communication referred
   8-14  to in Subsection (b). If any future dividend, distribution, or
   8-15  other sum payable to the owner as a result of the interest is
   8-16  subsequently not claimed by the owner, a new period of abandonment
   8-17  commences and relates back to the time that dividend, distribution,
   8-18  or other sum became due and payable.>
   8-19        <(f)  At the time an interest is presumed abandoned under
   8-20  this section, any dividend, distribution, or other sum then held
   8-21  for or owing to the owner as a result of the interest, and not
   8-22  previously presumed abandoned, is presumed abandoned.>
   8-23        <(g)  Any stock or other intangible ownership interest
   8-24  enrolled in a plan that provides for the automatic reinvestment of
   8-25  dividends, distributions, or other sums payable as a result of the
   8-26  interest is subject to the presumption of abandonment as provided
   8-27  by Subsection (a).>
    9-1        SECTION 3.02.  Section 73.003, Property Code, is amended by
    9-2  amending Subsection (b) and adding Subsection (d) to read as
    9-3  follows:
    9-4        (b)  An account is inactive if for more than one year there
    9-5  has not been a debit or credit to the account because of an act by
    9-6  the depositor or an agent of the depositor, other than the
    9-7  depository, and the depositor has not communicated with the
    9-8  depository.  A safe deposit box is inactive if the rental on the
    9-9  box is delinquent for more than one year.
   9-10        (d)  For purposes of presumption of abandonment under Section
   9-11  73.101, the five-year period of inactivity for accounts begins on
   9-12  the date of the last transaction or correspondence by the
   9-13  depositor.  The five-year period of inactivity of safe deposit
   9-14  boxes begins on the date the rental was due but not paid.
   9-15        SECTION 3.03.  Section 74.201, Property Code, is amended by
   9-16  adding Subsection (d) to read as follows:
   9-17        (d)  The State Treasurer may offer for sale space for
   9-18  suitable advertisements in a notice published under this section.
   9-19  Proceeds from the sale of the advertising space shall be used to
   9-20  defray the cost of publishing the notices, with the remaining
   9-21  amount, if any, to be deposited to the credit of the unclaimed
   9-22  money fund.
   9-23        SECTION 3.04.  Subsection (a), Section 74.401, Property Code,
   9-24  is amended to read as follows:
   9-25        (a)  Except as provided by Subsection (c), the State
   9-26  Treasurer shall sell at public sale all personal property, other
   9-27  than money and marketable securities, delivered to the State
   10-1  Treasurer in accordance with Section 74.301.  The State Treasurer
   10-2  shall conduct the sale in the city in this state that the State
   10-3  Treasurer determines affords the most favorable market for the
   10-4  particular property.
   10-5        SECTION 3.05.  Section 74.402, Property Code, is amended to
   10-6  read as follows:
   10-7        Sec. 74.402.  Notice of Sale.  Before the 21st day preceding
   10-8  the day on which a public sale<, public or private,> is held under
   10-9  Section 74.401, the State Treasurer shall publish notice of the
  10-10  sale in a newspaper of general circulation in the county where the
  10-11  sale is to be held.
  10-12        SECTION 3.06.  Section 74.503, Property Code, is amended to
  10-13  read as follows:
  10-14        Sec. 74.503.  Consideration of Claim. The State Treasurer
  10-15  <and the attorney general or their authorized agents jointly> shall
  10-16  consider the validity of each claim filed under this subchapter.
  10-17        SECTION 3.07.  Section 74.504, Property Code, is amended to
  10-18  read as follows:
  10-19        Sec. 74.504.  Hearing.  (a)  The State Treasurer <and the
  10-20  attorney general> may hold a hearing and receive evidence
  10-21  concerning a claim filed under this subchapter.
  10-22        (b)  If the State Treasurer considers <and the attorney
  10-23  general consider> that a hearing is necessary to determine the
  10-24  validity of a claim, <both> the State Treasurer <and the attorney
  10-25  general> shall sign the statement of the findings and the decision
  10-26  on the claim.  The statement shall report the substance of the
  10-27  evidence heard and the reasons for the decision.  The statement is
   11-1  a public record.
   11-2        (c)  If the State Treasurer determines <and the attorney
   11-3  general determine> that a claim is valid, the State Treasurer
   11-4  <they> shall approve and sign the claim.
   11-5        SECTION 3.08.  Subsection (c), Section 74.505, Property Code,
   11-6  is amended to read as follows:
   11-7        (c)  Costs of publication and postage shall be deducted from
   11-8  the amounts paid under this section, but deductions for any costs
   11-9  of administration or service charges may not be made, except as
  11-10  provided by Section 74.509.
  11-11        SECTION 3.09.  Section 74.507, Property Code, is amended to
  11-12  read as follows:
  11-13        Sec. 74.507.  Fee for Recovery.  A person who informs a
  11-14  potential claimant that the claimant may be entitled to claim
  11-15  property that is reportable to the State Treasurer under this
  11-16  chapter, that has been reported to the State Treasurer, or that is
  11-17  in the possession of the State Treasurer, <or a person who files a
  11-18  claim under this subchapter for such property on behalf of a
  11-19  claimant,> may not contract for or receive from the claimant for
  11-20  services an amount that exceeds 10 percent of the value of the
  11-21  property recovered.  If the property involved is mineral proceeds,
  11-22  the amount for services may not include a portion of the underlying
  11-23  minerals or any production payment, overriding royalty, or similar
  11-24  payment.
  11-25        SECTION 3.10.  Subchapter F, Chapter 74, Property Code, is
  11-26  amended by adding Section 74.509 to read as follows:
  11-27        Sec. 74.509.  HANDLING FEE FOR PROCESSING UNCLAIMED PROPERTY.
   12-1  The State Treasurer shall charge a person claiming unclaimed
   12-2  property a handling fee if ownership of the property is reinstated
   12-3  and the value of the property is $50 or more.
   12-4        SECTION 3.11.  Section 74.601, Property Code, is amended by
   12-5  amending Subsections (b) and (d) and adding Subsections (e) and (f)
   12-6  to read as follows:
   12-7        (b)  The State Treasurer shall deposit to the credit of the
   12-8  fund:
   12-9              (1)  all funds, including marketable securities,
  12-10  delivered to the State Treasurer under this chapter or any other
  12-11  statute requiring the delivery of unclaimed property to the State
  12-12  Treasurer;
  12-13              (2)  all proceeds from the sale of any property,
  12-14  including marketable securities, under this chapter;
  12-15              (3)  all funds that have escheated to the state under
  12-16  Chapter 71, except that funds relating to escheated real property
  12-17  shall be deposited according to Section 71.202; and
  12-18              (4)  any income derived from investments of the fund.
  12-19        (d)  Except as provided by Subsection (e), the <The> State
  12-20  Treasurer shall from time to time invest the amount in the
  12-21  unclaimed money fund <that exceeds $50,000> in investments approved
  12-22  by law for the investment of state funds.
  12-23        (e)  The State Treasurer may from time to time sell
  12-24  securities in the fund, including stocks, bonds, and mutual funds,
  12-25  and use the proceeds to buy, exchange, invest, or reinvest in
  12-26  marketable securities.  When making the investments, the State
  12-27  Treasurer shall exercise the judgment and care of a prudent person.
   13-1        (f)  The State Treasurer shall keep a separate record and
   13-2  accounting for securities delivered, sold, purchased, or exchanged
   13-3  and the proceeds and earnings from the securities.
   13-4        SECTION 3.12.  Subsection (b), Section 74.702, Property Code,
   13-5  is amended to read as follows:
   13-6        (b)  The State Treasurer, the attorney general, or an agent
   13-7  of either may not make public any information obtained by an
   13-8  examination made under this section and may not disclose that
   13-9  information except in the course of a judicial proceeding,
  13-10  authorized by this chapter, in which the state is a party or
  13-11  pursuant to an agreement with another state allowing joint audits
  13-12  or the exchange of information obtained under this section.
  13-13        SECTION 3.13.  Subsection (d), Section 74.602, Property Code,
  13-14  is repealed.
  13-15        SECTION 3.14.  This article takes effect September 1, 1993.
  13-16                         ARTICLE 4.  EMERGENCY
  13-17        SECTION 4.01.  The importance of this legislation and the
  13-18  crowded condition of the calendars in both houses create an
  13-19  emergency and an imperative public necessity that the
  13-20  constitutional rule requiring bills to be read on three several
  13-21  days in each house be suspended, and this rule is hereby suspended,
  13-22  and that this Act take effect and be in force according to its
  13-23  terms, and it is so enacted.