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.