By Shapiro S.B. No. 343 77R2644 JD-F A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to funds maintained by and for the Texas Turnpike 1-3 Authority division of the Texas Department of Transportation. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Sections 361.182(a), (g), and (h), Transportation 1-6 Code, are reenacted to read as follows: 1-7 (a) The authority shall maintain the Texas Turnpike 1-8 Authority feasibility study fund. The fund is a revolving fund 1-9 held in trust by a banking institution chosen by the authority or, 1-10 at the discretion of the authority, in trust in the state treasury 1-11 outside the general revenue fund. The fund shall be kept separate 1-12 from the money for any project. 1-13 (g) Interest and income earned on money deposited in the 1-14 feasibility study fund shall be deposited to the credit of the 1-15 fund. 1-16 (h) Money transferred to the department for the benefit of 1-17 the authority under Section 8.02, Chapter 1171, Acts of the 75th 1-18 Legislature, Regular Session, 1997, shall remain in the state 1-19 treasury and may not be transferred to a private banking 1-20 institution. This money is exempt from the application of Section 1-21 403.095, Government Code, and is not subject to reduction or 1-22 elimination under any other provision of the Government Code. 1-23 SECTION 2. Sections 361.184(a), (e), and (f), Transportation 1-24 Code, are reenacted to read as follows: 2-1 (a) The authority may maintain the Texas Turnpike Authority 2-2 project revolving fund. The fund is a revolving fund held in trust 2-3 by a banking institution chosen by the authority or, at the 2-4 discretion of the authority, in trust in the state treasury outside 2-5 the general revenue fund. The fund shall be kept separate from 2-6 other funds of the authority. 2-7 (e) Interest and income earned on money deposited in the 2-8 project revolving fund shall be deposited to the credit of the 2-9 fund. 2-10 (f) Money transferred to the department for the benefit of 2-11 the authority under Section 8.02, Chapter 1171, Acts of the 75th 2-12 Legislature, Regular Session, 1997, may not be deposited in the 2-13 project revolving fund. 2-14 SECTION 3. Section 361.185(a), Transportation Code, is 2-15 reenacted to read as follows: 2-16 (a) All money received under this chapter, whether as 2-17 proceeds from the sale of bonds or as revenue, is a trust fund to 2-18 be held and applied as provided by this chapter. Notwithstanding 2-19 any other law, including Section 9, Chapter 1123, Acts of the 75th 2-20 Legislature, Regular Session, 1997, funds held under this chapter 2-21 shall be held in trust by a banking institution chosen by the 2-22 authority or, at the discretion of the authority, in trust in the 2-23 state treasury outside the general revenue fund. 2-24 SECTION 4. This Act takes effect immediately if it receives 2-25 a vote of two-thirds of all the members elected to each house, as 2-26 provided by Section 39, Article III, Texas Constitution. If this 2-27 Act does not receive the vote necessary for immediate effect, this 3-1 Act takes effect September 1, 2001.