AN ACT

 1-1     relating to exempting officers and employees of political

 1-2     subdivisions of this state from certain interest payments in regard

 1-3     to unclaimed property claims.

 1-4           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

 1-5           SECTION 1.  Section 74.705, Property Code, is amended by

 1-6     adding Subsection (f) to read as follows:

 1-7           (f)  A person is exempt from payment of interest under

 1-8     Subsection (a) if the person's action or omission is in connection

 1-9     with the person's official duties as an officer or employee of a

1-10     political subdivision of this state.

1-11           SECTION 2.  The exemption provided by Subsection (f), Section

1-12     74.705, Property Code, as added by this Act, applies only to

1-13     interest accruing under Subsection (a), Section 74.705, Property

1-14     Code, on or after the effective date of this Act.

1-15           SECTION 3.  The importance of this legislation and the

1-16     crowded condition of the calendars in both houses create an

1-17     emergency and an imperative public necessity that the

1-18     constitutional rule requiring bills to be read on three several

1-19     days in each house be suspended, and this rule is hereby suspended,

1-20     and that this Act take effect and be in force from and after its

1-21     passage, and it is so enacted.

         _______________________________     _______________________________

             President of the Senate              Speaker of the House

               I hereby certify that S.B. No. 320 passed the Senate on

         February 26, 1997, by the following vote:  Yeas 31, Nays 0.

                                             _______________________________

                                                 Secretary of the Senate

               I hereby certify that S.B. No. 320 passed the House on

         May 16, 1997, by a non-record vote.

                                             _______________________________

                                                 Chief Clerk of the House

         Approved:

         _______________________________

                     Date

         _______________________________

                   Governor