Section 37.076

Title IV EXECUTIVE BRANCH

Chapter 37

Effective - 02 Jul 1990, see footnote   

  37.076.  Federal surplus property fund established, purpose — investment — not to lapse into general revenue. — There is established in the state treasury a fund to be known as the "Federal Surplus Property Fund".  All fees or other moneys received by the state agency for surplus property from the acquisition, warehousing, distribution, sale, transfer or other disposition of federal surplus property shall be deposited to the federal surplus property fund.  Notwithstanding the provisions of section 33.080 to the contrary, moneys in such fund shall not be transferred to the general revenue fund at the end of the biennium.  Moneys in the fund shall not exceed the amount specified pursuant to the state agency plan of operation as approved by the General Services Administration, or its successor organization.  Moneys in the fund not currently needed may be invested by the state treasurer and any income therefrom shall be deposited to the credit of the federal surplus property fund.

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(L. 1990 S.B. 816 § 2)

Effective 7-02-90