SRC-PNG H.B. 1137 76(R)   BILL ANALYSIS


Senate Research Center   H.B. 1137
76R1741 CAS-FBy: Thompson (Ellis)
Intergovernmental Relations
5/10/1999
Engrossed


DIGEST 

The 75th Legislature passed an amendment to Section 74.705, Property Code,
to exempt all local government officials from paying interest to the
comptroller of public accounts on escheated funds. Section 74.706, Property
Code, was added during that same session to include language which provides
a penalty with respect to such funds; however, the language was included
before the passage of the amendment and does not provide for the exemption
as added by the amendment.  This bill would specify that a holder of
unclaimed money does not include a local governmental entity or an officer
or employee of a local governmental entity who is performing the officer's
or employee's official duties for the local governmental entity. 

PURPOSE

As proposed, H.B. 1137 revises the Property Code relating to the penalty
imposed on certain persons who fail to timely pay or deliver abandoned
property. 

RULEMAKING AUTHORITY

This bill does not grant any additional rulemaking authority to a state
officer, institution, or agency. 

SECTION BY SECTION ANALYSIS

SECTION 1. Amends Section 74.706, Property Code, to specify that for the
purposes of Subsection (a), a "holder" does not include a local
governmental entity or an officer or employee of a local governmental
entity who is performing the officer's or employee's official duties for
the local governmental entity.   

SECTION 2. Makes application of this Act prospective.

SECTION 3. Effective date: September 1, 1999.

SECTION 4. Emergency clause.