H.B. No. 4488 is a legislative act that addresses the creation, re-creation, and abolition of funds and accounts, as well as the dedication and rededication of revenue within the state of Texas. The bill stipulates that all funds and accounts created or re-created by the 89th Legislature, Regular Session, 2025, will be abolished on August 31, 2025, unless otherwise specified. It outlines exceptions for certain statutory dedications, trust funds, and federal funds, ensuring that these are not subject to the same abolition. Additionally, the bill includes provisions for the reallocation of interest accrued on dedicated revenue, allowing such interest to be used for general governmental purposes.

The bill also amends existing legal language in the Government Code, specifically Sections 403.095 and 403.0956, to extend the timeline for the availability of dedicated revenues for general governmental purposes from 2025 to 2027. It clarifies that any dedicated accounts established for specialty license plates will be eliminated by September 30, 2025, with balances set aside for their intended purposes. Overall, H.B. No. 4488 aims to streamline the management of state funds and ensure that dedicated revenues are appropriately allocated while providing specific exemptions to protect certain funds from being abolished.

Statutes affected:
Introduced: Government Code 403.095, Transportation Code 504.6012 (Transportation Code 504, Government Code 403)
House Committee Report: Government Code 403.095, Transportation Code 504.6012 (Transportation Code 504, Government Code 403)
Engrossed: Government Code 403.095, Transportation Code 504.6012 (Transportation Code 504, Government Code 403)
Senate Committee Report: Government Code 403.095, Government Code 403.0956, Transportation Code 504.6012 (Transportation Code 504, Government Code 403)
Enrolled: Government Code 403.095, Government Code 403.0956, Transportation Code 504.6012 (Transportation Code 504, Government Code 403)