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A BILL TO BE ENTITLED
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AN ACT
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relating to the payment of interest by state agencies. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 2251.026(j), Government Code, is amended |
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to read as follows: |
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(j) No interest accrues or may be paid under this section on |
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a payment if the total amount of interest that would otherwise have |
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accrued is equal to or less than $5 [and the payment is made from the
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institutional funds of an institution of higher education as
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defined by Section 61.003, Education Code]. |
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SECTION 2. The change in law made by this Act applies only |
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to the accrual of interest under Section 2251.026, Government Code, |
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on or after the effective date of this Act. Interest accrued before |
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the effective date of this Act is governed by the law as it existed |
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immediately before that date, and that law is continued in effect |
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for that purpose. |
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SECTION 3. This Act takes effect September 1, 2015. |