Tex. Lab. Code § 203.102 · Subchapter C. ADVANCES FROM FEDERAL TRUST FUND AND OBLIGATION ASSESSMENT
OBLIGATION TRUST FUND.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The obligation trust fund is a dedicated trust fund outside of the state treasury in the custody of the comptroller. The obligation trust fund is composed of:
(1) revenue received under Section 203.105; and
(2) any surplus revenue transferred from the compensation fund under Section 204.065.
(b) The commission and governor may use money in the obligation trust fund without legislative appropriation to pay:
(1) bond obligations and bond administrative expenses; and
(2) principal and interest incurred on advances from the federal trust fund.
Notes and commentary — not statutory text
History
Acts 1993, 73rd Leg., ch. 269, Sec. 1, eff. Sept. 1, 1993. Amended by Acts 1995, 74th Leg., ch. 1004, Sec. 1, eff. Sept. 1, 1995; Acts 1997, 75th Leg., ch. 1423, Sec. 12.08, eff. Sept. 1, 1997; Acts 2003, 78th Leg., ch. 317, Sec. 2, eff. June 18, 2003; Acts 2003, 78th Leg., ch. 817, Sec. 6.02, eff. June 20, 2003.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 34 (S.B. 679), Sec. 1, eff. May 4, 2007.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/LA/htm/LA.203.htm
- Text hash
- sha256 81f09915660d0dfeccd1c3f216503a536f8af1c7386143848984a85d9b9a05f1
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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