H.B. No. 4905 amends Section 403.0956 of the Government Code to clarify the allocation of interest accrued on certain dedicated revenue. The bill specifies that all interest or earnings from revenue in the general revenue fund, which is available for certification under Section 403.121, can be used for general governmental purposes. However, it outlines specific exceptions where this rule does not apply, including interest or earnings from various accounts such as the lifetime license endowment account and the coastal protection account.

Notably, the bill introduces a new exception for the ship channel improvement revolving fund, which is now explicitly excluded from the general rule regarding the reallocation of interest. Additionally, it removes the deferred maintenance fund account from the list of exceptions. The bill is set to take effect immediately upon receiving a two-thirds vote from both houses of the legislature, or on September 1, 2025, if such a vote is not achieved.

Statutes affected:
Introduced: Transportation Code 56.002 (Transportation Code 56)
House Committee Report: Government Code 403.0956 (Transportation Code 56, Government Code 403)