By Ellis S.B. No. 20
74R6758 JRD-F
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 except for certain
1-4 powers and duties transferred to the Texas Public Finance
1-5 Authority.
1-6 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-7 SECTION 1. Subchapter A, Chapter 404, Government Code, is
1-8 amended by adding Section 404.0011 to read as follows:
1-9 Sec. 404.0011. TRANSFER OF TREASURER'S POWERS AND DUTIES.
1-10 (a) The powers and duties of the state treasurer under this
1-11 chapter or other law are transferred to the comptroller, except as
1-12 provided by Subsection (c).
1-13 (b) A reference in law to the state treasurer is a reference
1-14 to the comptroller, except as provided by Subsection (c).
1-15 (c) The powers and duties of the state treasurer under
1-16 Subchapter H that relate to the issuance of tax and revenue
1-17 anticipation notes are transferred to the Texas Public Finance
1-18 Authority. The powers and duties of the state treasurer under
1-19 Subchapter H that relate to transferring or investing the proceeds
1-20 of tax and revenue anticipation notes are transferred to the
1-21 comptroller. A reference in law to the state treasurer in
1-22 Subchapter H that relates to the issuance of tax and revenue
1-23 anticipation notes is a reference to the Texas Public Finance
1-24 Authority. A reference in law to the state treasurer in Subchapter
2-1 H that relates to transferring or investing the proceeds of tax and
2-2 revenue anticipation notes is a reference to the comptroller.
2-3 (d) If the state treasurer and the comptroller or their
2-4 respective designees are both ex officio members of a committee or
2-5 governing body under law, the transfer of the powers and duties
2-6 under this section does not give the comptroller more than one vote
2-7 or position on the committee or governing body. If the state
2-8 treasurer and the comptroller both have the power to appoint
2-9 members to a committee under law, the transfer of the powers and
2-10 duties under this section does not allow the comptroller to
2-11 exercise the power of appointment given to the treasurer under law
2-12 in addition to the power of appointment given to the comptroller
2-13 under law. If the state treasurer and the comptroller both have
2-14 the power to appoint members to a governing body under law, the
2-15 comptroller may exercise the power of appointment given to the
2-16 treasurer under law in addition to the power of appointment given
2-17 to the comptroller under law only if the members of the governing
2-18 body serve six-year terms and the composition of the governing body
2-19 is subject to Section 30a, Article XVI, Texas Constitution.
2-20 (e) The comptroller may contract with a private entity to
2-21 perform an activity transferred under this section if the activity
2-22 is not a sovereign function of the state but a commercial activity
2-23 that is commonly available from a private source.
2-24 SECTION 2. (a) The office of state treasurer is abolished
2-25 on August 31, 1996. On that date, all powers, duties, obligations,
2-26 rights, contracts, records, employees, property, and unspent and
2-27 unobligated appropriations and other funds of the state treasurer
3-1 are transferred to the comptroller unless the employee or item
3-2 being transferred relates primarily to duties under Subchapter H,
3-3 Chapter 404, Government Code, that will be performed by the Texas
3-4 Public Finance Authority, in which event the employee or item is
3-5 transferred to the authority.
3-6 (b) The abolishment of the office of state treasurer does
3-7 not affect the validity of a right, privilege, or obligation
3-8 accrued, a contract or acquisition made, any liability incurred, a
3-9 permit or license issued, a penalty, forfeiture, or punishment
3-10 assessed, a rule adopted, a proceeding, investigation, or remedy
3-11 begun, a decision made, or other action taken by or in connection
3-12 with the state treasurer.
3-13 (c) All rules, policies, procedures, and decisions of the
3-14 state treasurer are continued in effect as rules, policies,
3-15 procedures, and decisions of the comptroller, or of the Texas
3-16 Public Finance Authority if appropriate, until superseded by a rule
3-17 or other appropriate action of the comptroller, or of the authority
3-18 if appropriate.
3-19 (d) Any action or proceeding before the state treasurer is
3-20 transferred without change in status to the comptroller, or to the
3-21 Texas Public Finance Authority if appropriate, and the comptroller
3-22 or if appropriate the authority assumes, without a change in
3-23 status, the position of the treasurer in any action or proceeding
3-24 to which the treasurer is a party.
3-25 SECTION 3. This Act takes effect on August 31, 1996, if the
3-26 constitutional amendment proposed by the 74th Legislature, Regular
3-27 Session, 1995, that abolishes the office of state treasurer takes
4-1 effect. If that amendment does not take effect, this Act has no
4-2 effect.
4-3 SECTION 4. The importance of this legislation and the
4-4 crowded condition of the calendars in both houses create an
4-5 emergency and an imperative public necessity that the
4-6 constitutional rule requiring bills to be read on three several
4-7 days in each house be suspended, and this rule is hereby suspended.