Highlights of the 79th Texas Legislature - Senate

ECONOMIC DEVELOPMENT AND BUSINESS
Amends the Transportation Code, relating to the administration of the State Infrastructure Bank (SIB), to authorize
the use of state funds in the Texas Department of Transportation's SIB loan program and to authorize the Texas
Transportation Commission (TTC) to use state funds in the SIB for eligible local roadway projects, including facilities
that are not part of the state highway system.
Limits financial assistance, as applicable, to a qualified project that is consistent with the transportation plan
developed by the metropolitan planning organization.
Authorizes TTC to create sub-accounts that are capitalized with state funds only, and to exempt projects funded from
these accounts from certain federal regulations.
Requires projects receiving funds disbursed from the SIB's sub-accounts capitalized with federal funds to comply
with federal requirements.
The Money Services Act—H.B. 2218
By Representative McCall—Senate Sponsor: Senator Brimer
Texas law currently regulates money services businesses under separate chapters of the Finance Code. For
example, Chapter 152 regulates businesses that issue and sell checks, money orders, stored value cards, and other
payment instruments used to transfer money from one person to another. Chapter 153 regulates businesses that
receive currency or an instrument payable in currency for transmission, exchange, or transportation. The licensing
requirements applicable to a particular activity depend primarily upon the form in which or how the money is received.
This bill:
Consolidates the regulation of money services businesses into one act, the Money Services Act.
Repeals existing Chapters 152 and 153 of the Finance Code. The effect of this consolidation is to reflect and clarify
the requirements and procedures that exist under current law while creating a statutory framework that treats money
services businesses that engage in functionally similar transactions in a uniform manner.
Serves law enforcement interests at the state and federal level by safeguarding against money laundering and
terrorist activities as well as broadening the Texas Department of Banking's enforcement authority over licensed and
unlicensed businesses, including their agents.
Modernizes the regulation of money services businesses in Texas.
Notation on the Processing of a Forged Check—H.B. 2223
By Representatives Giddings and Bohac—Senate Sponsor: Senator Ellis
Currently, when a check has been forged, there is no requirement that the check be noted as a forgery, nor does
current law require that electronic records pertaining to that check carry the notation “forgery” as the transaction is
pending with financial institutions. It is necessary that such notation be made in order that financial institutions and
check payees are alerted that the check was written and signed by someone other than the person whose name is
on the account against which the check is drawn. This bill:
Requires a financial institution to process certain returned checks as forgeries, in accordance with the financial
institution's customary procedures.
HIGHLIGHTS - 79 TH TEXAS LEGISLATURE 53