HBA-DMD H.B. 2468 76(R)    BILL ANALYSIS


Office of House Bill AnalysisH.B. 2468
By: Ramsay
County Affairs
3/14/1999
Introduced



BACKGROUND AND PURPOSE 

Currently, the county official responsible for preparing a county's annual
budget may estimate the amount of interest that county funds are expected
to earn in the budget year, although there is no provision for how the
interest earned by the county should be estimated. 

H.B. 2468 requires the county judge, county auditor, and budget officer,
when determining the amount of estimated funds and revenue to be received
by the county, to obtain from the county investment officer an estimate of
the amount of interest that county funds are expected to earn in a fiscal
year.  

RULEMAKING AUTHORITY

It is the opinion of the Office of House Bill Analysis that this bill does
not expressly delegate any additional rulemaking authority to a state
officer, department, agency, or institution. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Section 111.004, Local Government Code, by adding
Subsection (d), as follows: 

(d) Requires the county judge, when determining the amount of estimated
revenues available to cover the proposed budget, to obtain from the county
investment officer designated under Section 2256.005(f) (Investment
Policies; Investment Strategies; Investment Officer), Government Code, or
other law an estimate of the amount of interest that county funds are
expected to earn in the year covered by the budget.  

SECTION 2.  Amends Section 111.034, Local Government Code, by adding
Subsection (c), as follows: 

(c)  Requires the county auditor, when determining the amount of estimated
funds and revenue to be received by the county, to obtain from the county
investment officer designated under Section 2256.005(f), Government Code,
or other law, an estimate of the amount of interest that county funds are
expected to earn in a fiscal year.  

SECTION 3.  Amends Section 111.063, Local Government Code, by adding
Subsection (e), as follows: 

(e) Requires the budget officer, when determining the amount of estimated
funds and revenue to be received by the county, to obtain from the county
investment officer designated under Section 2256.005(f), Government Code,
or other law, an estimate of the amount of interest that county funds are
expected to earn in a fiscal year.  

SECTION 4.Effective date: September 1, 1999. Provides that this Act applies
only to the preparation of a county budget for a fiscal year of the county
beginning on or after that date.  

SECTION 5.Emergency clause.