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A BILL TO BE ENTITLED
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AN ACT
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relating to certain financial requirements of certain toll project |
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entities. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter B, Chapter 372, Transportation Code, |
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is amended by adding Sections 372.054 and 372.055 to read as |
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follows: |
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Sec. 372.054. ANNUAL AUDIT. (a) In this section, "toll |
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project entity" does not include the department. |
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(b) A toll project entity shall have an annual audit of the |
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affairs of the toll project entity prepared by an independent |
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certified public accountant or a firm of independent certified |
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public accountants. |
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Sec. 372.055. ELECTRONIC CHECKING ACCOUNT TRANSACTION |
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REGISTER. (a) In this section, "toll project entity" does not |
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include the department. |
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(b) Except as provided by Subsection (f), a toll project |
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entity shall designate a person to maintain an electronic checking |
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account transaction register for the entity's checking account. |
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The register must: |
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(1) be in a searchable, electronic spreadsheet format; |
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and |
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(2) be available without a fee for viewing and |
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downloading by the public at all times on the entity's Internet |
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website. |
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(c) The electronic checking account transaction register |
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must include for each expense transaction from the toll project |
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entity's account: |
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(1) the transaction amount; |
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(2) the name of the payee; and |
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(3) a statement describing the purpose of the |
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expenditure. |
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(d) A toll project entity may not include in the entity's |
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electronic checking account transaction register a check issued to |
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an entity employee in payment of salary, wages, or an employment |
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stipend. |
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(e) A toll project entity shall: |
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(1) update the electronic checking account |
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transaction register at least once each month, not later than the |
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30th day after the closing date of the most recent monthly statement |
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for the checking account; and |
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(2) maintain each transaction or listing in the |
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electronic checking account transaction register on the entity's |
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Internet website until the first anniversary of the date of the |
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transaction or listing. |
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(f) The person designated to maintain the electronic |
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checking account transaction register under Subsection (b) may |
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consult with the comptroller in developing the register. |
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SECTION 2. A toll project entity required to maintain an |
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electronic checking account transaction register under Section |
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372.055, Transportation Code, as added by this Act, shall make the |
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register available for public viewing or downloading not later than |
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January 1, 2012. The register must contain the information |
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required by Section 372.055(c), Transportation Code, as added by |
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this Act, with regard to each transaction occurring on or after the |
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effective date of this Act. |
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SECTION 3. This Act takes effect September 1, 2011. |