H.B. No. 4488 establishes new regulations regarding 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 specifies that all funds and accounts created or re-created by the 89th Legislature will be abolished on August 31, 2025, unless otherwise stated. It outlines exceptions for previously exempt dedications, funds, and accounts, including those established before the 89th Legislature, federal funds requiring separate accounting, trust funds, and constitutional dedications. Additionally, the bill allows for newly authorized uses of money in dedicated funds or accounts, provided they align with the original purpose of the dedication.

The bill also amends existing laws related to the allocation of interest accrued on dedicated revenue, ensuring that such interest is available for general governmental purposes. Notably, it modifies Sections 403.095 and 403.0956 of the Government Code to extend the timeline for certain dedicated revenues to be available for general purposes until September 1, 2027, and includes provisions for the elimination of dedicated revenue accounts for specialty license plates. Overall, H.B. No. 4488 aims to streamline the management of state funds and ensure that dedicated revenues are utilized effectively while providing clear guidelines for their administration.

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)