Texas Statutes
Chapter 1105 - Self-Directed and Semi-Independent Status of Texas Real Estate Commission
Section 1105.003. Budget, Revenues, and Expenses

Sec. 1105.003. BUDGET, REVENUES, AND EXPENSES. (a) Notwithstanding any other provision of law, including the General Appropriations Act, the commission and the board shall each adopt a separate budget annually using generally accepted accounting principles.
(b) The commission shall be responsible for all direct and indirect costs of the commission's existence and operation. The board shall be responsible for all direct and indirect costs of the board's existence and operation. The agency may not directly or indirectly cause the general revenue fund to incur any cost.
(c) Notwithstanding any other provision of law, the commission and the board may each set the amounts of the respective fees, penalties, charges, and revenues required or permitted by statute or rule as necessary for the purpose of carrying out the separate functions of the commission and the board and funding the respective budgets of the commission and the board adopted and approved under Subsection (a).
(d) All fees and funds collected by the commission or the board and any funds appropriated to the commission or the board shall be deposited in interest-bearing deposit accounts in the Texas Treasury Safekeeping Trust Company. The comptroller shall contract with the commission and the board for the maintenance of the deposit accounts under terms comparable to a contract between a commercial banking institution and the institution's customers.
(e) Repealed by Acts 2015, 84th Leg., R.S., Ch. 448 , Sec. 31(l)(16), eff. September 1, 2015.
(f) Not later than August 31 of each fiscal year, the agency shall remit $750,000 to the general revenue fund.
(g) The fiscal year for the agency begins on September 1 and ends on August 31.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1333 (S.B. 1000), Sec. 1, eff. September 1, 2011.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 448 (H.B. 7), Sec. 31(l)(16), eff. September 1, 2015.
Acts 2015, 84th Leg., R.S., Ch. 448 (H.B. 7), Sec. 32, eff. September 1, 2015.

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