By Counts                                             H.B. No. 2084
         77R6975 CAS-D                           
                                A BILL TO BE ENTITLED
 1-1                                   AN ACT
 1-2     relating to delivery by local telephone exchange companies to
 1-3     scholarship funds for rural students of money that is presumed to
 1-4     be abandoned.
 1-5           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-6           SECTION 1. Section 74.3011(g), Property Code, is amended to
 1-7     read as follows:
 1-8           (g)  During a state fiscal year, the total amount of money
 1-9     that may be transferred by all local telephone exchange companies
1-10     under this section may not exceed $1 million [$400,000].  The
1-11     comptroller shall keep a record of the total amount of money
1-12     transferred annually.  When the total amount of money transferred
1-13     during a state fiscal year equals the amount allowed by this
1-14     subsection, the comptroller shall notify each local telephone
1-15     exchange company that the company may not transfer any additional
1-16     money to the company's scholarship fund during the remainder of
1-17     that state fiscal year.
1-18           SECTION 2. This Act takes effect September 1, 2001.