76R14006 GCH-F                           
         By Cuellar                                            H.B. No. 2311
         Substitute the following for H.B. No. 2311:
         By Alexander                                      C.S.H.B. No. 2311
                                A BILL TO BE ENTITLED
 1-1                                   AN ACT
 1-2     relating to funds maintained by and for the Texas Turnpike
 1-3     Authority division of the Texas Department of Transportation.
 1-4           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-5           SECTION 1.  Section 361.182, Transportation Code, is amended
 1-6     by amending Subsection (a)  and adding Subsections (g) and (h) to
 1-7     read as follows:
 1-8           (a)  The authority shall maintain the Texas Turnpike
 1-9     Authority feasibility study fund.  The fund is a revolving fund
1-10     held in trust by a banking institution chosen by the authority or,
1-11     at the discretion of the authority, in trust in the state treasury
1-12     outside the general revenue fund.  The fund [and] shall be kept
1-13     separate from the money for any project.
1-14           (g)  Interest and income earned on money deposited in the
1-15     feasibility study fund shall be deposited to the credit of the
1-16     fund.
1-17           (h)  Money transferred to the department for the benefit of
1-18     the authority under Section 8.02, Chapter 1171, Acts of the 75th
1-19     Legislature, Regular Session, 1997, shall remain in the state
1-20     treasury and may not be transferred to a private banking
1-21     institution.  This money is exempt from the application of Section
1-22     403.095, Government Code, and is not subject to reduction or
1-23     elimination under any other provision of the Government Code.
1-24           SECTION 2.  Section 361.184, Transportation Code, is amended
 2-1     by amending Subsection (a)  and adding Subsections (e) and (f) to
 2-2     read as follows:
 2-3           (a)  The authority may maintain the Texas Turnpike Authority
 2-4     project revolving fund.  The fund is a revolving fund held in trust
 2-5     by a banking institution chosen by the authority or, at the
 2-6     discretion of the authority, in trust in the state treasury outside
 2-7     the general revenue fund.  The fund [and] shall be kept separate
 2-8     from other funds of the authority.
 2-9           (e)  Interest and income earned on money deposited in the
2-10     project revolving fund shall be deposited to the credit of the
2-11     fund.
2-12           (f)  Money transferred to the department for the benefit of
2-13     the authority under Section 8.02, Chapter 1171, Acts of the 75th
2-14     Legislature, Regular Session, 1997, may not be deposited in the
2-15     project revolving fund.
2-16           SECTION 3.  Section 361.185(a), Transportation Code, is
2-17     amended to read as follows:
2-18           (a)  All money received under this chapter, whether as
2-19     proceeds from the sale of bonds or as revenue, is a trust fund to
2-20     be held and applied as provided by this chapter.  Notwithstanding
2-21     any other law, including Section 9, Chapter 1123, Acts of the 75th
2-22     Legislature, Regular Session, 1997, funds held under this chapter
2-23     shall be held in trust by a banking institution chosen by the
2-24     authority or, at the discretion of the authority, in trust in the
2-25     state treasury outside the general revenue fund.
2-26           SECTION 4.  Section 8.06, Chapter 1171, Acts of the 75th
2-27     Legislature, Regular Session, 1997, is repealed.
 3-1           SECTION 5.  The importance of this legislation and the
 3-2     crowded condition of the calendars in both houses create an
 3-3     emergency and an imperative public necessity that the
 3-4     constitutional rule requiring bills to be read on three several
 3-5     days in each house be suspended, and this rule is hereby suspended,
 3-6     and that this Act take effect and be in force from and after its
 3-7     passage, and it is so enacted.