Texas Occupations Code 1105.003 – Budget, Revenues, and Expenses
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(a) Notwithstanding any other provision of law, including the General Appropriations Act, the commission and the board shall each adopt a separate budget annually using generally accepted accounting principles.
(b) The commission shall be responsible for all direct and indirect costs of the commission’s existence and operation. The board shall be responsible for all direct and indirect costs of the board’s existence and operation. The agency may not directly or indirectly cause the general revenue fund to incur any cost.
Terms Used In Texas Occupations Code 1105.003
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Contract: A legal written agreement that becomes binding when signed.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Rule: includes regulation. See Texas Government Code 311.005
- Statute: A law passed by a legislature.
- Year: means 12 consecutive months. See Texas Government Code 311.005
(c) Notwithstanding any other provision of law, the commission and the board may each set the amounts of the respective fees, penalties, charges, and revenues required or permitted by statute or rule as necessary for the purpose of carrying out the separate functions of the commission and the board and funding the respective budgets of the commission and the board adopted and approved under Subsection (a).
(d) All fees and funds collected by the commission or the board and any funds appropriated to the commission or the board shall be deposited in interest-bearing deposit accounts in the Texas Treasury Safekeeping Trust Company. The comptroller shall contract with the commission and the board for the maintenance of the deposit accounts under terms comparable to a contract between a commercial banking institution and the institution’s customers.
(e) Repealed by Acts 2015, 84th Leg., R.S., Ch. 448 , Sec. 31(l)(16), eff. September 1, 2015.
(f) Not later than August 31 of each fiscal year, the agency shall remit $750,000 to the general revenue fund.
(g) The fiscal year for the agency begins on September 1 and ends on August 31.