By Shields                                            H.B. No. 3703
         Line and page numbers may not match official copy.
         Bill not drafted by TLC or Senate E&E.
                                A BILL TO BE ENTITLED
 1-1                                   AN ACT
 1-2     relating to the payment of interest on tax overpayments.
 1-3           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-4           SECTION 1.  Chapter 111, Subchapter C, Tax Code is amended by
 1-5     adding the following section:
 1-6           Sec. 111.104(g)  The Comptroller shall pay interest on tax
 1-7     refunds, at the rate of 2% (two percent) per annum, calculated on a
 1-8     per diem basis from the date that the lawful or correct portion of
 1-9     the tax was due and payable.  This section shall apply to all taxes
1-10     collected or administered by the comptroller, including the state
1-11     property tax and tax refunds under Section 151.318(g) or (n).
1-12           SECTION 2.  This Act takes effect September 31, 1999.
1-13           SECTION 3.  The importance of this legislation and the
1-14     crowded condition of the calendars in both houses create an
1-15     emergency and an imperative public necessity that the
1-16     constitutional rule requiring bills to be read on three several
1-17     days in each house be suspended, and this rule is hereby suspended.