82R1301 PAM-F
By: Zaffirini S.B. No. 60
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 by Webb
County 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
BY WEBB COUNTY. Notwithstanding former Subchapter E, Chapter 17,
as that subchapter existed on May 1, 1995, the Commissioners Court
of Webb County may:
(1) develop or sell the rights to natural resources or
minerals in lands held in trust by Webb County under Section 6,
Article VII, Texas Constitution; and
(2) enter into an agreement described by Section
6(b)(2), Article VII, Texas Constitution.
SECTION 2. This Act takes effect December 1, 2011, but only
if the constitutional amendment proposed by the 82nd Legislature,
Regular Session, 2011, authorizing Webb County to obtain proceeds
of the county permanent school fund and recover from proceeds of the
county permanent school fund expenses incurred by the county in a
transaction to develop or sell rights to natural resources or
minerals in county permanent school fund property and distribute
the proceeds remaining after reimbursement to school districts for
which the property is held in trust is approved by the voters. If
that amendment is not approved, this Act has no effect.