82R4300 KJM-D
 
  By: Otto H.B. No. 3663
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the use and management of the Texas preservation trust
  fund account.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Sections 442.015(a), (b), and (f), Government
  Code, are amended to read as follows:
         (a)  Notwithstanding Section [Sections 403.094 and] 403.095,
  the Texas preservation trust fund account is a separate account in
  the general revenue fund.  The account consists of transfers made to
  the account, loan repayments, grants and donations made for the
  purposes of this program, proceeds of sales, income earned
  [earnings] on money in the account, and any other money received
  under this section.  Money in [Distributions from] the account may
  be used only for the purposes of this section and [may not be used]
  to pay operating expenses of the commission.  Money allocated to the
  commission's historic preservation grant program shall be
  deposited to the credit of the account.  Income earned [Earnings] on
  money in the account shall be deposited to the credit of the
  account.
         (b)  The commission may use money in [distributions from] the
  Texas preservation trust fund account to provide financial
  assistance to public or private entities for the acquisition,
  survey, restoration, or preservation, or for planning and
  educational activities leading to the preservation, of historic
  property in the state that is listed in the National Register of
  Historic Places or designated as a State Archeological Landmark or
  Recorded Texas Historic Landmark, or that the commission determines
  is eligible for such listing or designation.  The financial
  assistance may be in the amount and form and according to the terms
  that the commission by rule determines.  The commission shall give
  priority to property the commission determines to be endangered by
  demolition, neglect, underuse, looting, vandalism, or other threat
  to the property.  Gifts and grants deposited to the credit of the
  account specifically for any eligible projects may be used only for
  the type of projects specified.  If such a specification is not
  made, the gift or grant shall be unencumbered and accrue to the
  benefit of the Texas preservation trust fund account.  If such a
  specification is made, the entire amount of the gift or grant may be
  used during any period for the project or type of project specified.
         (f)  The advisory board shall recommend to the commission
  rules for administering this section [Subsections (a)-(e)].
         SECTION 2.  Sections 442.015(h), (i), (j), (k), and (l),
  Government Code, are repealed.
         SECTION 3.  The comptroller and the Texas Historical
  Commission shall enter into a memorandum of understanding to
  facilitate the conversion of assets of the Texas preservation trust
  fund account into cash for deposit into the state treasury using a
  method that provides for the lowest amount of revenue loss to the
  state.
         SECTION 4.  This Act takes effect November 1, 2011.