Texas Government Code 404.073 – Funds Outside Treasury
Current as of: 2024 | Check for updates
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(a) The comptroller may be the trustee of funds or property outside the treasury.
(b) The comptroller functioning as the trustee of funds or property outside the treasury may contract with the treasury to manage the funds or property in a manner similar to the management of funds in the treasury.
Terms Used In Texas Government Code 404.073
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Contract: A legal written agreement that becomes binding when signed.
- Property: means real and personal property. See Texas Government Code 311.005
- Trustee: A person or institution holding and administering property in trust.
(c) Interest that has been and that will be accrued or earned from deposits made under a law to which this subsection applies is state funds not subject to allocation or distribution to taxing units, cities, or transportation authorities under that law. This subsection applies to:
(1) § 205.02, Alcoholic Beverage Code;
(2) § 403.105(d) of this code;
(3) Sections 321.501 and 321.504, Tax Code;
(4) Sections 322.301 and 322.304, Tax Code; and
(5) Sections 323.501 and 323.504, Tax Code.