76R13194 JD-D                           
         By Burnam                                             H.B. No. 2380
         Substitute the following for H.B. No. 2380:
         By Heflin                                         C.S.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 the Act take effect and be in force from and after its
2-27     passage, and it is so enacted.