Bill not drafted by TLC or Senate E&E.

      Line and page numbers may not match official copy.

      By Ehrhardt                                     H.B. No. 3531

                                A BILL TO BE ENTITLED

 1-1                                   AN ACT

 1-2     relating to funding of the Housing Trust Fund administered by the

 1-3     Texas Department of Housing and Community Affairs and transfers

 1-4     from the Texas Capital Trust Fund.

 1-5           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

 1-6           SECTION 1.  Section 2201.002(a), Government Code, is amended

 1-7     to read as follows:

 1-8           (a)  The fund may be used only [to finance]:

 1-9                 [(1)  the acquisition, construction, repair,

1-10     improvement, or equipping of a building by a state agency for a

1-11     state purpose;]

1-12                 [(2)  the acquisition of real or personal property

1-13     necessary for a state agency to take an action described by

1-14     Subdivision (1); or]

1-15                 (1)  to compensate the administration of the asset

1-16     management division of the General Land Office as provided by

1-17     Section 31.158(c)(8) Natural Resources Code; or

1-18                 (2)  as provided in Section 2201.003(b) of this code.

1-19           SECTION 2.  Section 2201.003, Government Code, is amended to

1-20     read as follows:

1-21           (a)  Income from the fund shall be deposited to the credit of

1-22     the general revenue fund.

1-23           (b)  At the end of each fiscal quarter any unemcumbered

1-24     balance of the fund which is less than $500 million shall be

 2-1     transferred to the credit of the Housing Trust Fund which is

 2-2     administered by the Texas Department of Housing and Community

 2-3     Affairs, and at the end of each fiscal biennium the unencumbered

 2-4     balance of the fund in excess of $500 million shall be transferred

 2-5     to the credit of the general revenue fund.

 2-6           SECTION 3.  This Act takes effect September 1, 1997.

 2-7           SECTION 4.  The importance of this legislation and the

 2-8     crowded condition of the calendars in both houses create an

 2-9     emergency and an imperative public necessity that the

2-10     constitutional rule requiring bills to be read on three several

2-11     days in each house be suspended, and this rule is hereby suspended.