Fund 0880 – Asbestos Penalty Escrow Trust Account

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Legal Citations:

Occupations Code sec. 1954.354

Origin Date: 2002

Issue Date: 1996-10-01

Revised Date: 2004-09-01

Purpose

A person paying an administrative penalty relating to asbestos violations may file for judicial review contesting the violation or penalty amount. The penalty will be held in escrow pending the outcome of the review.

Classification	Group 08: Trust Funds [?]
Depository Interest	Held in escrow with penalty.
Disposition of Balance	Accumulative
Appropriation Technique	Not appropriated for state expenditure.

Administering Agencies

537 – Department of State Health Services (formerly the Texas Department of Health, Agency 501)

Financial Activity

To view this fund's current revenue and expenditure activity by agency or comptroller object code, visit the following links:

Notes

This fund used to hold securities relating to nuclear and radioactive materials regulation when required to provide security to assure performance of holder's obligations. Securities included cash deposit, surety bond, certificate of deposit, irrevocable letter of credit, government securities or other acceptable security.

Previously the Radiation and Perpetual Care Escrow Fund.

Redirected to GR Account -- Perpetual Care (No. 5096) by H.B. 1567 and H.B. 1678, 78th Leg., R.S.

Asbestos penalties were added on 6-1-02 and name changed 7/2002.

Transferred to Agency 537 on 9-1-04 by H.B. 2292, 78th Leg., R.S.

USAS Values

USAS Title	ASBESTOS PENALTY ESCROW TRUST ACCT
Consolidated Fund
State Fund Group	08 - TRUST FUNDS
USAS Status	A

Those funds created to account for assets held by the state in a trustee capacity for individuals, private organizations or other governmental entities

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