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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 or accrued interest |
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or other earnings on money received from the federal government. |
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The comptroller shall account for and administer federal money |
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separately from money in the general revenue fund in a manner that |
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ensures federal money and earnings on federal money are used for the |
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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; |
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(2) merge, consolidate, or segregate funds or accounts |
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or money deposited to funds or accounts; or |
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(3) abolish a fund or an account in the general revenue |
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fund to which federal money has been deposited in accordance with |
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other law. |
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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 or to the credit |
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of an account in the general revenue fund. To the extent of any |
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other conflict between this section and other law, this section |
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controls. |
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SECTION 2. This Act takes effect September 1, 2017. |