By: Armbrister S.B. No. 320 A BILL TO BE ENTITLED 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.