By: Nelson S.B. No. 633
73R3339 LJD-F
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the dedication of state revenue derived from horse
1-3 racing and greyhound racing to the foundation school fund.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 3.09, Texas Racing Act (Article 179e,
1-6 Vernon's Texas Civil Statutes), is amended to read as follows:
1-7 Sec. 3.09. Funding. (a) The comptroller shall deposit the
1-8 state's share of each pari-mutuel pool from horse racing and
1-9 greyhound racing in the foundation school fund <General Revenue
1-10 Fund>.
1-11 (b) The commission shall deposit the money it collects under
1-12 this Act in the State Treasury to the credit of a special fund to
1-13 be known as the Texas Racing Commission fund. The Texas Racing
1-14 Commission fund may be appropriated only for the administration and
1-15 enforcement of this Act. Any unappropriated money remaining in
1-16 that special fund at the close of each fiscal biennium shall be
1-17 transferred to the foundation school fund <General Revenue Fund>
1-18 and may be appropriated for any legal purpose for which money in
1-19 that fund may be appropriated. The legislature may also
1-20 appropriate money from the General Revenue Fund for the
1-21 administration and enforcement of this Act. Any amount of general
1-22 revenue appropriated for the administration and enforcement of this
1-23 Act in excess of the cumulative amount deposited in the Texas
1-24 Racing Commission fund shall be reimbursed from the Texas Racing
2-1 Commission fund not later than one year after the date on which the
2-2 general revenue funds are appropriated, with 12 percent interest
2-3 per year.
2-4 SECTION 2. This Act takes effect September 1, 1993, and
2-5 applies only to money received by the comptroller or the Texas
2-6 Racing Commission under Section 3.09, Texas Racing Act (Article
2-7 179e, Vernon's Texas Civil Statutes), on or after that date.
2-8 SECTION 3. The importance of this legislation and the
2-9 crowded condition of the calendars in both houses create an
2-10 emergency and an imperative public necessity that the
2-11 constitutional rule requiring bills to be read on three several
2-12 days in each house be suspended, and this rule is hereby suspended.