Texas HB4488 addresses the creation, re-creation, and abolition of funds and accounts, and the allocation of dedicated revenue and interest.

HB4488 mandates the comptroller to reduce dedicated accounts by the amount exceeding appropriations, ensuring adequate cash balances. It abolishes funds and accounts created by the 89th Legislature, except those exempted by law before January 1, 2025. Trust funds and certain federal funds are exempt from abolition. Interest on dedicated revenue is reallocated to the general revenue fund, except for specific funds. The bill also amends statutes to reflect these changes and sets an effective date contingent on legislative approval.

Texas HB4488 addresses the creation, re-creation, and abolition of funds and accounts, and the allocation of dedicated revenue and interest.

HB4488 mandates the comptroller to reduce dedicated accounts by the amount exceeding appropriations, ensuring adequate cash balances. It abolishes funds and accounts created by the 89th Legislature, except those exempted by law before January 1, 2025. Trust funds and certain federal funds are exempt from abolition. Interest on dedicated revenue is reallocated to the general revenue fund, except for specific funds. The bill also amends statutes to reflect these changes and sets an effective date contingent on legislative approval.