BILL ANALYSIS
Senate Research Center S.B. 490
By: West
AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
Currently, all funds deposited with the Dallas County District Clerk's registry are held in a non-interest bearing accounts unless the court has ordered otherwise. More than $19 million in funds do not have attached orders for investment. As a consequence, the recipients of those funds, which may be held for more than five years, are not being paid in current dollars.
S.B. 490 amends current law relating to money paid into the registry of a court in certain counties.
RULEMAKING AUTHORITY
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Section 117.111, Local Government Code, as follows:
Sec. 117.111. New heading: SUBCHAPTER APPLICABLE TO COUNTY WITH POPULATION OF 1.3 MILLION OR MORE. Provides that this subchapter applies only to a county with a population of 1.3 million or more, rather than 2.4 million or more.
SECTION 2. Amends the heading to Subchapter E, Chapter 117, Local Government Code, to read as follows:
SUBCHAPTER E. SPECIAL PROVISIONS APPLYING TO FUNDS PAID
INTO COURT REGISTRY IN COUNTY WITH POPULATION OF
MORE THAN 1.3 MILLION
SECTION 3. Effective date: September 1, 2009.