By Siebert H.B. No. 364 74R130 JRD-D A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to transferring all powers and duties of the state 1-3 treasurer to the comptroller of public accounts. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Subchapter A, Chapter 404, Government Code, is 1-6 amended by adding Section 404.0011 to read as follows: 1-7 Sec. 404.0011. TRANSFER OF TREASURER'S POWERS AND DUTIES. 1-8 (a) All powers and duties of the state treasurer under this 1-9 chapter or other law are transferred to the comptroller. 1-10 (b) Any reference in law to the state treasurer is a 1-11 reference to the comptroller. 1-12 SECTION 2. (a) The office of state treasurer is abolished 1-13 on January 1, 1996. On that date, all powers, duties, obligations, 1-14 rights, contracts, records, employees, property, and unspent and 1-15 unobligated appropriations and other funds of the state treasurer 1-16 are transferred to the comptroller. 1-17 (b) The abolishment of the office of state treasurer does 1-18 not affect the validity of a right, privilege, or obligation 1-19 accrued, a contract or acquisition made, any liability incurred, a 1-20 permit or license issued, a penalty, forfeiture, or punishment 1-21 assessed, a rule adopted, a proceeding, investigation, or remedy 1-22 begun, a decision made, or other action taken by or in connection 1-23 with the state treasurer. 1-24 (c) All rules, policies, procedures, and decisions of the 2-1 state treasurer are continued in effect as rules, policies, 2-2 procedures, and decisions of the comptroller until superseded by a 2-3 rule or other appropriate action of the comptroller. 2-4 (d) Any action or proceeding before the state treasurer is 2-5 transferred without change in status to the comptroller, and the 2-6 comptroller assumes, without a change in status, the position of 2-7 the treasurer in any action or proceeding to which the treasurer is 2-8 a party. 2-9 SECTION 3. This Act takes effect on January 1, 1996, if the 2-10 constitutional amendment proposed by the 74th Legislature, Regular 2-11 Session, 1995, that abolishes the office of state treasurer takes 2-12 effect. If that amendment does not take effect, this Act has no 2-13 effect. 2-14 SECTION 4. The importance of this legislation and the 2-15 crowded condition of the calendars in both houses create an 2-16 emergency and an imperative public necessity that the 2-17 constitutional rule requiring bills to be read on three several 2-18 days in each house be suspended, and this rule is hereby suspended.