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A BILL TO BE ENTITLED
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AN ACT
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relating to the deposit of money received from the federal |
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government and the authority of the comptroller concerning related |
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funds and accounts. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter B, Chapter 403, Government Code, is |
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amended by adding Section 403.0125 to read as follows: |
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Sec. 403.0125. FEDERAL MONEY DEPOSITED TO TREASURY. (a) |
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The comptroller may not deposit to the credit of the general revenue |
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fund money received from the federal government. Interest, other |
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earnings on money, earned credits, and indirect cost recoveries |
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received from the federal government shall be deposited to the |
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credit of the general revenue fund. The comptroller shall account |
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for and administer federal money separately from money in the |
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general revenue fund in a manner that ensures federal money is used |
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for the purposes for which federal money is received. |
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(b) To facilitate the administration of federal money under |
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this section or other law, the comptroller may: |
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(1) designate or create a fund or account in the |
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treasury for the deposit of federal money and any interest or other |
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earnings on the federal money; or |
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(2) merge, consolidate, or segregate funds or accounts |
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or money deposited to funds or accounts. |
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(c) This section prevails over other general law that |
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provides for money received from the federal government, or |
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earnings on money received from the federal government, to be |
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deposited to the credit of the general revenue fund. To the extent |
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of any other conflict between this section and other law, this |
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section controls. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect on the 91st day after the last day of the |
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legislative session. |