Issue Date: | 1991-09-01 |
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Revised Date: | 2023-09-01 |
Legal Citations
- Occupations Code sec. 1802.151
Origin:
1991 by H.B. 2269, 72nd Leg., R.S.
Purpose
Established as a special trust fund for payment of claims against licensed auctioneers. Consists of additional license fees.
If on August 31 of any year, the balance in the trust fund is less than $350,000 each licensee shall pay a fee in addition to renewal fees, the greater of $50 or a pro rata share of the amount necessary to bring the fund to $350,000.
Classification | Group 08: Trust Funds [?] |
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Depository Interest | Retained in appropriated fund (L.O. 92-69, 1992). |
Disposition of Balance | Accumulative |
Appropriation Technique | Not appropriated for state expenditure. |
Administering Agencies
Financial Activity
To view this appropriated fund's current revenue and expenditure activity by agency or comptroller object code, visit the following links:
Note
H.B. 3038, 83rd Leg., R.S. increased from $250,000 to $300,000 the threshold which must be met before the executive director may spend amounts under 1802.156.
Direction on expenditures under sec. 1802.156 and authority to invest the fund were repealed by H.B. 4416, 88th Leg., R.S.
USAS Values
USAS Title | AUCTION ED & RECOVERY TRUST FUND |
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Consolidated Fund | |
State Fund Group | 08 - TRUST FUNDS |
USAS Status | A |