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.