By Burnam H.B. No. 2380 A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to ad valorem tax revenues collected by the 1-3 assessor-collector of certain counties and to interest on those 1-4 revenues. 1-5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-6 SECTION 1. Chapter 31, Tax Code, is amended by adding 1-7 Section 31.105 to read as follows: 1-8 Sec. 31.105. DEPOSIT OF TAXES COLLECTED BY CERTAIN COUNTY 1-9 ASSESSOR-COLLECTORS. (a) This section applies only to the county 1-10 assessor-collector of a county with a population of one million or 1-11 more who collects taxes on behalf of the county and one or more 1-12 other taxing units. 1-13 (b) With the consent of the commissioners court of the 1-14 county, and notwithstanding Sections 113.021(a) and (b) and 1-15 116.113(b), Local Government Code, Section 31.10(c) of this code, 1-16 or any other law to the contrary, the county assessor-collector may 1-17 deposit on behalf of the county and the other taxing units for 1-18 which the assessor-collector collects taxes all or a designated 1-19 part of the taxes collected for the county and the other taxing 1-20 units: 1-21 (1) to the credit of an interest-bearing account in 1-22 the county depository; 1-23 (2) with the county's investment officer for 1-24 investment in accordance with Chapter 2256, Government Code, and 2-1 the approved investment policy of the county; or 2-2 (3) to the credit of a segregated account with the 2-3 Texas Treasury Safekeeping Trust Company under Subchapter G, 2-4 Chapter 404, Government Code. 2-5 (c) The county assessor-collector shall keep interest earned 2-6 on tax revenues deposited under this section in a separate account 2-7 in the books and records of the assessor-collector. 2-8 (d) At least annually, the county assessor-collector shall 2-9 distribute the interest earned on deposits made under this section 2-10 to the county and the taxing units in proportion to the tax 2-11 revenues distributed to the county and each of those taxing units. 2-12 (e) Earned interest attributable to an amount refunded to a 2-13 taxpayer under Section 31.11 on or before the date provided by 2-14 Section 31.12(a) for payment of a refund without interest shall be 2-15 retained by the county assessor-collector for distribution under 2-16 this section. 2-17 (f) Section 113.006, Local Government Code, applies to the 2-18 deposit of tax revenue under this section in the same manner as 2-19 that section applies to the deposit of tax revenue in the county 2-20 depository. 2-21 SECTION 2. The importance of this legislation and the 2-22 crowded condition of the calendars in both houses create an 2-23 emergency and an imperative public necessity that the 2-24 constitutional rule requiring bills to be read on three several 2-25 days in each house be suspended, and this rule is hereby suspended, 2-26 and that this Act take effect and be in force from and after its 2-27 passage, and it is so enacted.