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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 regional tollway |
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authorities. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter B, Chapter 366, Transportation Code, |
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is amended by adding Sections 366.039 and 366.040 to read as |
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follows: |
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Sec. 366.039. ANNUAL AUDIT. The financial transactions of |
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an authority created under this chapter are subject to annual |
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financial audit by the state auditor in accordance with Chapter |
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321, Government Code. |
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Sec. 366.040. ELECTRONIC CHECKING ACCOUNT TRANSACTION |
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REGISTER. (a) Except as provided by Subsection (e), an authority |
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shall designate a person to maintain an electronic checking |
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account transaction register for the authority'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 authority's Internet |
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website. |
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(b) The electronic checking account transaction register |
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must include for each expense transaction from the authority's |
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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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(c) An authority may not include in the authority's |
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electronic checking account transaction register a check issued to |
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an authority employee in payment of salary, wages, or an employment |
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stipend. |
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(d) An authority 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 |
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authority's Internet website until the first anniversary of the |
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date of the transaction or listing. |
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(e) The person designated to maintain the electronic |
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checking account transaction register under Subsection (a) may |
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consult with the comptroller in developing the register. |
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SECTION 2. A regional tollway authority required to |
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maintain an electronic checking account transaction register under |
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Section 366.040, Transportation Code, as added by this Act, shall |
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make the register available for public viewing or downloading not |
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later than January 1, 2012. The register must contain the |
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information required by Section 366.040(b), Transportation Code, |
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as added by this Act, with regard to each transaction occurring on |
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or after the effective date of this Act. |
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SECTION 3. This Act takes effect September 1, 2011. |