SRC-CDH, HRD S.B. 515 75(R) BILL ANALYSIS Senate Research CenterS.B. 515 By: Moncrief Finance 3-10-97 As Filed DIGEST Currently, the North Texas Regional Library System, comprising 66 public libraries in 20 northwest Texas counties, is an independent nonprofit corporation which contracts with the Texas State Library and Archives Commission (commission) to provide services in that region. Prior to 1993, the Library Systems Act required regional library systems to maintain cash reserves equal to 25 percent of their proposed annual contract. However, in 1993, the commission voted to replace this cash reserve requirement with the present system which identifies and minimizes risks to both state and federal funds, and establishes appropriate indemnification. This bill would require all funds in excess of five percent of annual system operation grant general revenue funds unexpended by a regional library system to be refunded to the commission. PURPOSE As proposed, S.B. 515 requires all funds in excess of five percent of annual system operation grant general revenue funds unexpended by a regional library system to be refunded to the Texas State Library and Archives Commission. RULEMAKING AUTHORITY This bill does not grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 441.131, Government Code, by adding Section (c), as follows: (c) Requires all funds in excess of five percent of annual system operation grant general revenue funds unexpended by a regional library system at the end of the second quarter following the fiscal year in which they were granted to be refunded to the Texas State Library and Archives Commission with the quarterly financial status report. SECTION 2. Effective date: September 1, 1997. SECTION 3. Emergency clause.