Issue Date: 2003-10-01
Revised Date:

Legal Cites

Origin:

2003

Purpose

Created to hold securities posted by each racing association as required by comptroller rule. To be posted in an amount sufficient to cover the amount of state money collected and held by an association between bank deposits to ensure payment of the state's portion of the pari-mutuel pool. Cash, cashier's checks, surety bonds, letters of credit, U.S. Treasury bonds or irrevocable assignments of federally insured accounts are acceptable for purposes of this section.
Classification Group 08: Trust Funds [?]
Depository Interest Credited to General Revenue Fund (0001)
Disposition of Balance Accumulative
Appropriation Technique Not appropriated for state expenditure.

Administering Agencies

Note

USAS Values

USAS Title TX RACING COMMISSION SECURITY TRUST FUND
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