77R13108 JD-F
By Ramsay H.B. No. 3049
Substitute the following for H.B. No. 3049:
By Bonnen C.S.H.B. No. 3049
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the use of interest earned on motor vehicle inventory
1-3 tax escrow accounts.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 23.122, Tax Code, is amended by amending
1-6 Subsection (c) and adding Subsection (q) to read as follows:
1-7 (c) The collector shall maintain the escrow account for each
1-8 owner in the county depository. The collector is not required to
1-9 maintain a separate account in the depository for each escrow
1-10 account created as provided by this section but shall maintain
1-11 separate records for each owner. The collector shall retain any
1-12 interest generated by the escrow account to defray the cost of
1-13 administration of the prepayment procedure established by this
1-14 section. Interest generated by an escrow account created as
1-15 provided by this section is the sole property of the collector, and
1-16 that interest may be used by no entity other than the collector.
1-17 Interest generated by an escrow account may not be used to:
1-18 (1) reduce or otherwise affect the annual
1-19 appropriation to the collector that would otherwise be made; or
1-20 (2) supplement the salary or cover any personal
1-21 expenses of the collector.
1-22 (q) At least 60 days before the first day of the county's
1-23 fiscal year, the collector shall prepare a budget for the
1-24 expenditure of interest generated by the escrow accounts during
2-1 that fiscal year and file a copy of that budget with the county
2-2 budget officer. The county budget officer shall make a copy of the
2-3 collector's budget filed with the budget officer available to the
2-4 public at all reasonable times. The collector's budget filed with
2-5 the county budget officer is not subject to approval by the
2-6 commissioners court of the county, but any member of the public is
2-7 entitled to speak for or against the collector's budget during the
2-8 county's budget process. Interest generated by the escrow accounts
2-9 under this section may be spent only in compliance with:
2-10 (1) the collector's budget filed with the county
2-11 budget officer under this subsection; and
2-12 (2) Subchapter C, Chapter 262, Local Government Code.
2-13 SECTION 2. This Act takes effect immediately if it receives
2-14 a vote of two-thirds of all the members elected to each house, as
2-15 provided by Section 39, Article III, Texas Constitution. If this
2-16 Act does not receive the vote necessary for immediate effect, this
2-17 Act takes effect September 1, 2001.