Relating to the creation of the Permanent School Fund Management Council to manage the permanent school fund; providing a criminal penalty.
Impact
Should this legislation pass, it would likely have significant implications for educational funding and governance. The establishment of the Management Council represents a shift in oversight that could lead to more strategic investment of the permanent school fund, which in turn may result in increased financial stability for education financing. Furthermore, the bill directs the council to provide regular assessments of the economic impacts of the fund's investments, potentially fostering transparency and informed decision-making.
Summary
House Bill 1140 establishes the Permanent School Fund Management Council, tasked with overseeing the management of the permanent school fund. This bill aims to create a structured governing body that is responsible for ensuring the effective administration of funds designated for educational purposes. By centralizing the management of the permanent school fund, HB1140 seeks to enhance accountability and oversight related to how these funds are utilized to support education in the state.
Sentiment
The general sentiment towards HB1140 appears to align with a supportive stance among legislators focused on improving the effectiveness of education financing. Supporters argue that a dedicated management council brings a level of expertise that will benefit the long-term health of the school fund and, consequently, public education. However, there could be concerns voiced about the concentration of authority within a council and whether this aligns with the diverse needs of various educational institutions across the state.
Contention
Notable points of contention surrounding the bill may include debates over the composition of the council and the potential influence of political appointees on education funding decisions. Questions may arise regarding how well the council can represent the interests of different districts served by the permanent school fund and whether the legislation might inadvertently centralize decision-making too much, potentially fostering a disconnect between fund management and local educational needs.
Enabling for
Proposing a constitutional amendment to create the Permanent School Fund Management Council to assume the duty of the State Board of Education to manage the permanent school fund.
Relating to the creation of the Dallas Municipal Management District; providing authority to issue bonds; providing authority to impose assessments and fees.
Relating to the creation of the Dallas Municipal Management District; providing authority to issue bonds; providing authority to impose assessments and fees.
Relating to the creation of the Montgomery County Management District No. 2; providing authority to issue bonds; providing authority to impose assessments, fees, and taxes.
Relating to the creation of the Jones Avenue Municipal Management District; providing authority to issue bonds; providing authority to impose assessments, fees, and taxes.
Relating to the creation of the Jones Avenue Municipal Management District; providing authority to issue bonds; providing authority to impose assessments, fees, and taxes.
Relating to the creation of the Jones Avenue Municipal Management District; providing authority to issue bonds; providing authority to impose assessments, fees, and taxes.
Relating to the creation of The Grand Prairie Management District; providing authority to issue bonds; providing authority to impose assessments, fees, and taxes.
Relating to the creation of the Liberty County Management District No. 2; providing authority to issue bonds; providing authority to impose assessments, fees, and taxes.
Relating to the creation of the Liberty County Management District No. 2; providing authority to issue bonds; providing authority to impose assessments, fees, and taxes.
Relating to the creation of the West Lake Ranch Municipal Management District; providing authority to issue bonds; providing authority to impose assessments, fees, and taxes.
Relating to the Texas school finance system, including the creation of the bicentennial education fund, the establishment of the Texas Education Investment Management Organization, and the management and investment of the permanent school fund.
Relating to the management and investment of the permanent school fund, including authorizing the creation of the Texas Permanent School Fund Corporation to manage and invest the fund and limiting the authority of the School Land Board to manage and invest the fund if the corporation is created.
Relating to the continuation and functions of the Department of Agriculture and the Prescribed Burning Board, the creation of the Texas Bioenergy Policy Council and Texas Bioenergy Research Committee, and the abolition of the Texas-Israel Exchange Fund Board; providing penalties.
Relating to the continuation and functions of the Department of Agriculture and the Prescribed Burning Board and the abolition of the Texas-Israel Exchange Fund Board.