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


Senate Research CenterC.S.H.B. 5
78S10554 ESH-DBy: McCall (Bivins)
Finance
7/16/2003
Committee Report (Substituted)

DIGEST AND PURPOSE 

With the enactment of H.B. 2425 (78th, Regular Session), the comptroller
of public accounts (comptroller) is allowed to borrow from funds outside
the state treasury.  C.S.H.B. 5 provides 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

This bill does not expressly grant any additional rulemaking authority to
a state officer, institution, or agency. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Provides that for the fiscal biennium beginning September 1,
2003, the comptroller of public accounts (comptroller) is appropriated
from the general revenue fund the amount needed to return any available
cash that was transferred to that fund from a fund outside the state
treasury and to maintain the equity of the fund from which the transfer
was made, as required by Section 403.092 (Temporary Transfer of Surplus
and Other Cash), Government Code, as amended by Section 19, H.B. No. 2425,
Acts of the 78th Legislature, Regular Session, 2003. 

SECTION 2.  Establishes that not more than  $5,000,000 of the
appropriation made by Section 1 of this Act may be used to allocate earned
interest to a fund outside the state treasury under Section 403.092(a),
Government Code. 

SECTION 3.  Requires the comptroller, during the state fiscal biennium
beginning September 1, 2003, to return the available cash that has been
transferred from a fund outside the state treasury to a fund within the
state treasury under Section 403.092(a), Government Code, together with
the earned interest on the transferred amount, to the fund from which the
available cash was transferred within 14 days after the date on which the
available cash was transferred. 

SECTION 4.  Provides that the change made to Section 42.259, Education
Code, by Section 4, H.B. No. 2425, Acts of the 78th Legislature, Regular
Session, 2003, effectively transferring certain payments to school
districts from August of a state fiscal year to September of the following
fiscal year, apply only to a payment from the foundation school fund that
is made on or after January 1, 2004. Establishes that a payment to a
school district from the foundation school fund that is made before that
date is governed by Section 42.259, Education Code, as it existed on June
1, 2003, and the former law is continued in effect for that purpose. 

SECTION 5.  Effective date: upon passage or the 91st day after the last
day of the legislative session.