Tex. Lab. Code § 203.102

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 203.102 - Obligation Trust Fund

(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.

Tex. Lab. Code § 203.102

Amended By Acts 2007, 80th Leg., R.S., Ch. 34, Sec. 1, eff. 5/4/2007.

Amended By Acts 2003, 78th Leg., ch. 817, Sec. 6.02, eff. 6/20/2003.

Amended By Acts 2003, 78th Leg., ch. 317, Sec. 2, eff. 6/18/2003

Amended By Acts 1997, 75th Leg., ch. 1423, Sec. 12.08, eff. 9/1/1997

Amended by Acts 1995, 74th Leg., ch. 1004, Sec. 1, eff. 9/1/1995

Acts 1993, 73rd Leg., ch. 269, Sec. 1, eff. 9/1/1993.