SRC-BWC H.B. 2796 77(R)   BILL ANALYSIS


Senate Research Center   H.B. 2796
77R7831 JRD-DBy: Goolsby (Cain)
Administration
5/1/2001
Engrossed


DIGEST AND PURPOSE 

The 76th Legislature created the capitol renewal account (account) as a
special account in the general revenue fund to maintain and preserve the
Capitol, the General Land Office Building, their contents, and their
grounds. However, the 76th Legislature also passed legislation that
provided that all funds and accounts created or recreated in the state
treasury by an Act of the 76th Legislature that became law are abolished.
H.B. 2796 reenacts provisions relating to the account and renames the
account as the capital renewal trust fund.  

RULEMAKING AUTHORITY

This bill does not expressly grant any additional rulemaking authority to a
state officer, institution, or agency. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Reenacts and amends Section 443.0103, Government Code, as
follows: 

Sec. 443.0103.  New heading:  CAPITAL RENEWAL TRUST FUND.  Provides that
the capital renewal trust fund is created as a trust fund outside the
treasury with the comptroller, and requires the fund to be administered by
the State Preservation Board  
(board) to maintain and preserve the Capitol, the General Land Office
Building, their contents, and their grounds.  Provides that the fund
consists of money transferred to the fund at the direction of the
legislature or in accordance with this section.  Requires the interest,
rather than the pro rata portion of interest, received from investment of
money in the fund, rather than general revenue fund, to be credited to the
fund, rather than account.  Authorizes the board to transfer money from any
account of the Capitol fund to the capital renewal trust fund, other than
money that was donated to the board, derived from a security or other thing
of value donated to the board, or earned as interest or other income on a
donation to the board, if the board determines that after the transfer
there will be a sufficient amount of money in the applicable account of the
Capitol fund to accomplish the purposes for which the account was created.
Deletes text stating that the Capitol renewal account is a special account
in the general revenue fund.  Deletes text providing that the account is
exempted from the application of Sections 403.095 and 404.071. 

SECTION 2.  Requires the comptroller, on August 31, 2001, to transfer the
unexpended balance of the appropriations to the State Preservation Board
for the state fiscal biennium ending August 31, 2001, not to exceed $6.7
million, to the capital renewal trust fund established under Section
443.0103, Government Code, as amended by this Act. 

SECTION 3.  Effective date: August 31, 2001.