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.