| 1 | 1 | | By: Guillen H.B. No. 2634 |
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| 2 | 2 | | |
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| 3 | 3 | | |
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| 4 | 4 | | A BILL TO BE ENTITLED |
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| 5 | 5 | | AN ACT |
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| 6 | 6 | | relating to disposition of proceeds from the development or sale of |
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| 7 | 7 | | the rights to natural resources or minerals in land held for the |
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| 8 | 8 | | county permanent school fund. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Subchapter E, Chapter 45, Education Code, is |
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| 11 | 11 | | amended by adding Section 45.114 to read as follows: |
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| 12 | 12 | | Sec. 45.114. DEVELOPMENT OR SALE OF RIGHTS TO NATURAL |
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| 13 | 13 | | RESOURCES OR MINERALS IN LAND HELD FOR COUNTY PERMANENT SCHOOL |
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| 14 | 14 | | FUND. Notwithstanding former Subchapter E, Chapter 17, as that |
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| 15 | 15 | | subchapter existed on May 1, 1995, the commissioners court of a |
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| 16 | 16 | | county that borders the United Mexican States with a population of |
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| 17 | 17 | | more than 190,000 but less than 250,000 that holds lands in trust |
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| 18 | 18 | | for school district(s) under this subchapter may: |
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| 19 | 19 | | (1) develop or sell the rights to natural resources or |
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| 20 | 20 | | minerals in the land; and |
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| 21 | 21 | | (2) with agreement of the school district(s) for which |
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| 22 | 22 | | the land is held in trust, obtain from the proceeds of a disposition |
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| 23 | 23 | | under Subdivision (1) reimbursement of the county's expenses |
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| 24 | 24 | | incurred in connection with the disposition. |
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| 25 | 25 | | SECTION 2. This Act takes effect December 1, 2009, but only |
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| 26 | 26 | | if the constitutional amendment proposed by the 81st Legislature, |
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| 27 | 27 | | Regular Session, 2009, authorizing a county to recover expenses |
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| 28 | 28 | | from proceeds of the county permanent school fund incurred by the |
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| 29 | 29 | | county in a transaction to develop or sell the rights to natural |
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| 30 | 30 | | resources or minerals in county permanent school fund property, is |
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| 31 | 31 | | approved by the voters. If that amendment is not approved, this Act |
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| 32 | 32 | | has no effect. |
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