Issue Date: 1995-08-01
Revised Date:

Legal Cites

Origin:

January 1, 1994

Purpose

To hold in trust money or securities deposited by mixed beverage permittees. The total of bonds, certificates of deposit, letters of credit, or other security must be in an amount sufficient to protect the fiscal interests of the state. The Comptroller may not set the amount of security at less than $1,000 or more than the greater of: 1) $100,000 or 2) four times the amount of the permittee's average monthly liability.

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

S.B. 1123, 77th Leg., R.S. increased the maximum security amount from $25,000 to $50,000.

H.B. 3314, 80th Leg., R.S. increased the maximum security amount from $50,000 to $100,000.

H.B. 3572, 83rd Leg., R.S. recodified sec. 183.053 to 183.026.

USAS Values

USAS Title MIXED BEV TAX GUARANTY 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