By Ellis                                               S.B. No. 848
         77R6495 JRD-D                           
                                A BILL TO BE ENTITLED
 1-1                                   AN ACT
 1-2     relating to crediting interest to a suspense account of the
 1-3     comptroller and transferring accumulated interest from the account.
 1-4           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-5           SECTION 1. Section 404.071(a), Government Code, is amended to
 1-6     read as follows:
 1-7           (a)  Interest received from investments of money in funds and
 1-8     accounts in the charge of the comptroller shall be allocated on a
 1-9     monthly basis as follows:
1-10                 (1)  the pro rata portion of the interest received due
1-11     to each constitutional fund shall be credited to that fund;
1-12                 (2)  the pro rata portion of the interest received due
1-13     to the game, fish, and water safety fund shall be credited to that
1-14     fund; and
1-15                 (3)  the remainder of the interest received[, except
1-16     the portion required by other statutes to be credited on a pro rata
1-17     basis to protested payments,] shall be credited to the general
1-18     revenue fund.
1-19           SECTION 2. (a)  This section applies only to the accumulated
1-20     interest that remains credited to the suspense account of the
1-21     comptroller into which, under former law, the comptroller deposited
1-22     protested payments of taxes, fees, and penalties made as a
1-23     condition of bringing suit under Subchapter J, Chapter 403,
1-24     Government Code, or Chapter 112, Tax Code.
 2-1           (b)  The comptroller shall transfer all remaining amounts of
 2-2     the accumulated interest accrued on the protested payments, on a
 2-3     pro rata basis, to the credit of the appropriate funds or accounts
 2-4     into which accrued interest on the various taxes, fees, or
 2-5     penalties that were protested is allocated by other law.
 2-6           SECTION 3. This Act takes effect immediately if it receives a
 2-7     vote of two-thirds of all the members elected to each house, as
 2-8     provided by Section 39, Article III, Texas Constitution.  If this
 2-9     Act does not receive the vote necessary for immediate effect, this
2-10     Act takes effect on the 91st day after the last day of the
2-11     legislative session.