By:  Shapleigh                                                            S.B. No. 124



A BILL TO BE ENTITLED

AN ACT

relating to the continuance of the Telecommunications 
Infrastructure Fund Board and the limitation on deposits to the 
telecommunications infrastructure fund.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Section 57.051, Utilities Code, is amended to 
read as follows:   
	Sec. 57.051.  SUNSET PROVISION.  The Telecommunications 
Infrastructure Fund Board is subject to Chapter 325, Government 
Code (Texas Sunset Act).  Unless continued in existence as provided 
by that chapter, the board is abolished and this subchapter expires 
September 1, 2009 [2005].
	SECTION 2.  Sections 57.048(c) and (d), Utilities Code, are 
amended to read as follows:
	(c)  The total amount deposited to the credit of the fund, 
excluding interest and loan repayments, may not exceed $2 [$1.5] 
billion.  Not later than August 31 of each year, the comptroller 
shall determine the total amount, excluding interest and loan 
repayments, that has been deposited to the credit of the fund during 
that fiscal year and the preceding fiscal years.  If the comptroller 
determines that a total of $1.8 [$1.2] billion or more, excluding 
interest and loan repayments, has been deposited to the credit of 
the fund, the comptroller shall impose the assessment during the 
next fiscal year at a rate that the comptroller estimates is 
sufficient to produce the amount necessary to result in the deposit 
in the fund of a total of not more than $2 [$1.5] billion, excluding 
interest and loan repayments.
	(d)  The comptroller may not collect the assessment during a 
fiscal year if the comptroller determines after the yearly review 
that the total amount deposited to the credit of the fund during 
that fiscal year and the preceding fiscal years is $1.99 [$1.49] 
billion or more, excluding interest and loan repayments, and it is 
not possible to impose the assessment during the next fiscal year at 
a practical rate without collecting more than a total of $2 [$1.5] 
billion, excluding interest and loan repayments.
	SECTION 3.  This Act takes effect September 1, 2003.