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