1-1     By:  Ellis                                             S.B. No. 848
 1-2           (In the Senate - Filed February 22, 2001; February 26, 2001,
 1-3     read first time and referred to Committee on Finance;
 1-4     March 5, 2001, reported favorably by the following vote:  Yeas 9,
 1-5     Nays 0; March 5, 2001, sent to printer.)
 1-6                            A BILL TO BE ENTITLED
 1-7                                   AN ACT
 1-8     relating to crediting interest to a suspense account of the
 1-9     comptroller and transferring accumulated interest from the account.
1-10           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-11           SECTION 1.  Subsection (a), Section 404.071, Government Code,
1-12     is amended to read as follows:
1-13           (a)  Interest received from investments of money in funds and
1-14     accounts in the charge of the comptroller shall be allocated on a
1-15     monthly basis as follows:
1-16                 (1)  the pro rata portion of the interest received due
1-17     to each constitutional fund shall be credited to that fund;
1-18                 (2)  the pro rata portion of the interest received due
1-19     to the game, fish, and water safety fund shall be credited to that
1-20     fund; and
1-21                 (3)  the remainder of the interest received[, except
1-22     the portion required by other statutes to be credited on a pro rata
1-23     basis to protested payments,] shall be credited to the general
1-24     revenue fund.
1-25           SECTION 2.  (a)  This section applies only to the accumulated
1-26     interest that remains credited to the suspense account of the
1-27     comptroller of public accounts into which, under former law, the
1-28     comptroller deposited protested payments of taxes, fees, and
1-29     penalties made as a condition of bringing suit under Subchapter J,
1-30     Chapter 403, Government Code, or Chapter 112, Tax Code.
1-31           (b)  The comptroller of public accounts shall transfer all
1-32     remaining amounts of the accumulated interest accrued on the
1-33     protested payments, on a pro rata basis, to the credit of the
1-34     appropriate funds or accounts into which accrued interest on the
1-35     various taxes, fees, or penalties that were protested is allocated
1-36     by other law.
1-37           SECTION 3.  This Act takes effect immediately if it receives
1-38     a vote of two-thirds of all the members elected to each house, as
1-39     provided by Section 39, Article III, Texas Constitution.  If this
1-40     Act does not receive the vote necessary for immediate effect, this
1-41     Act takes effect on the 91st day after the last day of the
1-42     legislative session.
1-43                                  * * * * *