| Issue Date: | 2003-09-01 |
|---|---|
| Revised Date: |
Legal Cites
- Labor Code sec. 203.255, sec. 203.256
Origin:
2003 by S.B. 280 and HB 3318, 78th Leg., R.S.
Purpose
Created to receive proceeds from taxable and non-taxable revenue bond issues. Used to repay principal and interest of previous advances from the federal trust fund, pay unemployment benefits, pay cost of bond issuance, provide a bond reserve and pay capitalized interest on the bonds. Any excess money remaining after the purposes for which the bonds were issued are satisfied may be used to purchase or redeem outstanding bonds. If no outstanding bonds or bond interest remain, proceeds shall be transferred to the unemployment compensation fund.
| Classification | Group 04: Pledged Funds [?] |
|---|---|
| Depository Interest | Retained in appropriated fund. |
| Disposition of Balance | Accumulative until all purposes satisfied. Remaining balance transferred to the unemployment compensation fund. |
| Appropriation Technique | General Appropriations Act |
Administering Agencies
Note
USAS Values
| USAS Title | TWC UNEMPLOYMENT COMP REVENUE BOND FUND |
|---|---|
| Consolidated Fund | |
| State Fund Group | 04 - PLEDGED FUNDS |
| USAS Status | A |
Created by bond resolution requirements which specify the maintenance of separate funds to account for the bond program.