By Shapleigh                                           S.B. No. 860
         76R7507 WP-F                           
                                A BILL TO BE ENTITLED
 1-1                                   AN ACT
 1-2     relating to reporting requirements for certain abandoned property.
 1-3           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-4           SECTION 1.  Section 76.001, Property Code, is amended to read
 1-5     as follows:
 1-6           Sec. 76.001.  APPLICABILITY.  This chapter applies only to
 1-7     the holder of property if:
 1-8                 (1)  the holder is a municipality or county; and
 1-9                 (2)  the property is:
1-10                       (A)  presumed abandoned under Chapter 72 or 75;
1-11     and
1-12                       (B)  valued at $100 or more [less].
1-13           SECTION 2.  (a)  This Act takes effect September 1, 1999.
1-14           (b)  The changes in law made by Section 76.001, Property
1-15     Code, as amended by this Act, apply only to unclaimed property held
1-16     by a holder on or after June 30, 2000.  Property held by a holder
1-17     on June 30, 1999, is governed by the law as it existed immediately
1-18     before the effective date of this Act, and that law is continued in
1-19     effect for that purpose.
1-20           SECTION 3.  The importance of this legislation and the
1-21     crowded condition of the calendars in both houses create an
1-22     emergency and an imperative public necessity that the
1-23     constitutional rule requiring bills to be read on three several
1-24     days in each house be suspended, and this rule is hereby suspended.