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. However, certain exemptions are outlined, including statutory dedications, trust funds, and funds created under federal law, which will not be affected by this abolition. Additionally, the bill specifies that revenue dedicated for particular purposes, such as the oil and gas regulation fund and the state highway fund, will also be exempt from the provisions of this act.

The bill further amends existing legal language in the Government Code, particularly Sections 403.095 and 403.0956, to clarify the treatment of dedicated revenues and the allocation of interest accrued on those revenues. Notably, it allows for the reallocation of interest accrued on certain dedicated revenue to be available for general governmental purposes. The act is set to take effect immediately upon receiving a two-thirds vote from both houses or on the 91st day after the legislative session if such a vote is not achieved. The amendments include changes to the dates referenced in the existing law, extending certain deadlines to 2027 instead of 2025.

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