By: Kitzman H.B. No. 2674
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the application submitted to the comptroller for
  designation as a state depository.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Sections 404.022(a), (c), and (d), Government
  Code, are amended to read as follows:
         (a)  The comptroller, not later than the first business day
  in May [June] of each odd-numbered year, shall notify [mail to each]
  eligible institutions of [institution a letter stating] the
  conditions with which applicants for designation as a state
  depository must comply.  The comptroller shall keep on file in the
  comptroller's office and make available for inspection by any
  person a list of institutions to which notification has [letters
  have] been sent.
         (c)  An application shall be mailed or electronically
  submitted to the comptroller at Austin and must be received before
  noon on the first business day of August of the year in which the
  notification [letter] is sent.  An application received after that
  time may be considered at the option of the comptroller.  The
  comptroller may charge a processing fee of $25 for each application
  and shall deposit the fees to the credit of the general revenue
  fund.  The comptroller may specify the format required for
  electronic submissions and may adopt rules to administer this
  section.
         (d)  [On receipt of an application under this section, the
  comptroller shall endorse on the application the date of its
  receipt.]  The comptroller shall prepare a list of the names of the
  applicants and the amount for which each has applied.
         SECTION 2.  This Act takes effect immediately if it receives
  a vote of two-thirds of all the members elected to each house, as
  provided by Section 39, Article III, Texas Constitution.  If this
  Act does not receive the vote necessary for immediate effect, this
  Act takes effect September 1, 2023.