C.S.H.B. 5 78(1)    BILL ANALYSIS


C.S.H.B. 5
By: McCall
Appropriations
Committee Report (Substituted)
        


BACKGROUND AND PURPOSE 

With the enactment of HB 2425 (78th , Regular Session), the Comptroller is
allowed to borrow funds from outside the State Treasury.  Committee
Substitute House Bill 5 would provide an appropriation for repayment of
such borrowing. 

For the 2004-05 biennium, this bill would appropriate to the Comptroller
from the General Revenue Fund 0001 the amount necessary to return any
available cash that was transferred to Fund 0001 from a fund outside the
State Treasury and to maintain the equity of the fund from which the
transfer of available cash was made. 
 

RULEMAKING AUTHORITY

It is the committee's opinion that this bill does not expressly grant any
additional rulemaking authority to a state officer, department, agency, or
institution. 

ANALYSIS

C.S.H.B. 5 appropriates general revenue beginning September 1, 2003 to the
comptroller to repay the borrowing of funds by the Comptroller. 

C.S.H.B. 5 limits the appropriation to allocate earned interest to a fund
outside the state treasury under Section 403.092(a) of the Government Code
to $5 million. 

C.S.H.B. 5 specifies that the comptroller shall return available cash that
has been transferred together with the earned interest within 14 days
after the date on which the available cash was transferred.    

EFFECTIVE DATE        

Immediate effect if it receives a vote of two-thirds of all the members
elected to each house.  
If this act does not receive the vote for immediate effect, the act takes
effect on the 91st day after the last day of the legislative session. 

COMPARISON OF ORIGINAL TO SUBSTITUTE

C.S.H.B 5 adds additional language that limits the appropriation to
allocate earned interest to a fund outside the state treasury under
Section 403.092(a) of the Government Code to $5 million. 

C.S.H.B 5 adds additional language that  specifies that the comptroller
shall return available cash that has been transferred together with the
earned interest within 14 days after the date on which the available cash
was transferred.