Sec. 2023.053. TEXAS RACING COMMISSION FUND; ADDITIONAL APPROPRIATIONS. (a) The commission shall deposit the money it collects under this subtitle in the state treasury to the credit of a special fund to be known as the Texas Racing Commission fund.
(b) The Texas Racing Commission fund may be appropriated only for the administration and enforcement of this subtitle.
(c) Any unappropriated money exceeding $750,000 that remains in the fund at the close of each state fiscal biennium shall be transferred to the general revenue fund and may be appropriated for any purpose.
(d) The legislature may appropriate money from the general revenue fund for the administration and enforcement of this subtitle.
(e) Any amount of general revenue appropriated for the administration and enforcement of this subtitle in excess of the cumulative amount deposited in the Texas Racing Commission fund shall be reimbursed from the Texas Racing Commission fund not later than the first anniversary of the date the general revenue funds are appropriated, with 6.75 percent interest. All payments made under this subsection are first attributable to interest accumulated under this subsection.
(f) This section does not apply to money deposited into the Texas-bred incentive fund established under Section 2028.301.
Added by Acts 2017, 85th Leg., R.S., Ch. 963 (S.B. 1969), Sec. 1.01, eff. April 1, 2019.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 1366 (H.B. 3366), Sec. 1, eff. September 1, 2019.
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