SRC-JXG S.B. 701 76(R)   BILL ANALYSIS


Senate Research Center   S.B. 701
76R6415 DRH-DBy: Madla
Intergovernmental Relations
3/12/1999
As Filed


DIGEST 

Currently, Texas law does not provide for estimating interest earned by a
county. S.B. 701 would authorize the county official responsible for
preparing the county budget 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 covered by the budget. 

PURPOSE

As proposed, S.B. 701 authorizes certain county officials to obtain budget
information from the county investment officer in determining the county
budget. 

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 111.004, Local Government Code, by adding
Subsection (d), to require the county judge 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 the year covered by the budget, in determining the
amount of estimated revenues available to cover the proposed budget. 

SECTION 2. Amends Section 111.034, Local Government Code, by adding
Subsection (c), to require the county auditor 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, in determining the amount of estimated
funds and revenue to be received by the county.  

SECTION 3. Amends Section 111.063, Local Government Code, by adding
Subsection (e), to require the budget officer 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, in determining the amount of estimated
funds and revenue to be received by the county. 

SECTION 4. Effective date: September 1, 1999. 
           Makes application of this Act prospective.

SECTION 5. Emergency clause.