BILL ANALYSIS
Senate Research Center H.B. 2536
81R9339 SMH-F By: Creighton (West)
AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
H.B. 2536 amends current law relating to the floodplain management account.
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. Amends Section 16.3161, Water Code, as follows:
Sec. 16.3161. New heading: FLOODPLAIN MANAGEMENT FUND. (a) Provides that the floodplain management fund, rather than account, is a special fund in the state treasury outside the general revenue fund. Provides that the fund is composed of certain money, including interest earned on money credited to the fund. Makes a conforming change.
(b)-(d) Makes conforming changes.
(e) Provides that Section 403.095 (Use of Dedicated Revenue), Government Code, does not apply to the fund.
SECTION 2. Amends Section 251.004(b), Insurance Code, to make a conforming change.
SECTION 3. Redesignates the floodplain management account established under Section 16.3161, Water Code, as the floodplain management fund and re-creates it by this Act as a special fund in the state treasury outside the general revenue, and requires that the revenue required by Section 251.004 (Deposit of Maintenance Taxes), Insurance Code, and Section 16.3161, Water Code, to be reallocated to or deposited in the fund, as applicable, be reallocated or deposited in the fund for the purposes specified by Section 16.3161.
SECTION 4. Effective date: upon passage or September 1, 2009.