By Armbrister S.B. No. 320 75R2507 CAS-F A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to exempting officers and employees of political 1-3 subdivisions of this state from certain interest payments in regard 1-4 to unclaimed property claims. 1-5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-6 SECTION 1. Section 74.705, Property Code, is amended by 1-7 adding Subsection (f) to read as follows: 1-8 (f) A person is exempt from payment of interest under 1-9 Subsection (a) if the person's action or omission is in connection 1-10 with the person's official duties as an officer or employee of a 1-11 political subdivision of this state. 1-12 SECTION 2. The exemption provided by Section 74.705(f), 1-13 Property Code, as added by this Act, applies only to interest 1-14 accruing under Section 74.705(a), Property Code, on or after the 1-15 effective date of this Act. 1-16 SECTION 3. The importance of this legislation and the 1-17 crowded condition of the calendars in both houses create an 1-18 emergency and an imperative public necessity that the 1-19 constitutional rule requiring bills to be read on three several 1-20 days in each house be suspended, and this rule is hereby suspended, 1-21 and that this Act take effect and be in force from and after its 1-22 passage, and it is so enacted.