Texas 2015 - 84th Regular

Texas House Bill HB1551 Compare Versions

Version 1 (Old)

Version 2 (New)

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1		-	By: Howard, Bonnen of Galveston, Koop H.B. No. 1551
2		-	(Senate Sponsor - Hancock)
3		-	(In the Senate - Received from the House May 11, 2015;
4		-	May 12, 2015, read first time and referred to Committee on Finance;
5		-	May 21, 2015, reported favorably by the following vote: Yeas 13,
6		-	Nays 0; May 21, 2015, sent to printer.)
7		-	Click here to see the committee vote
	1	+	H.B. No. 1551
8	2
9	3
10		-	A BILL TO BE ENTITLED
11	4		AN ACT
12	5		relating to money distributed by the School Land Board to the
13	6		available school fund or to the State Board of Education for
14	7		investment in the permanent school fund.
15	8		BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
16	9		SECTION 1. Section 51.413, Natural Resources Code, is
17	10		amended to read as follows:
18	11		Sec. 51.413. TRANSFERS FROM THE REAL ESTATE SPECIAL FUND
19	12		ACCOUNT TO THE AVAILABLE SCHOOL FUND AND THE PERMANENT SCHOOL FUND.
20	13		(a) The board may, by a resolution adopted at a regular meeting,
21	14		release from the real estate special fund account funds previously
22	15		designated under Section 51.401 [of this chapter] or managed, used,
23	16		or encumbered under Section 51.402 or Section 51.4021 [of this
24	17		chapter] to be deposited in the State Treasury to the credit of:
25	18		(1) the available school fund; or
26	19		(2) the State Board of Education for investment in the
27	20		permanent school fund.
28	21		(b) The board shall adopt rules to establish the procedure
29	22		that will be used by the board to determine the date a transfer will
30	23		be made and the amount of money that will be transferred to the
31	24		available school fund or to the State Board of Education for
32	25		investment in the permanent school fund from the real estate
33	26		special fund account as provided by Subsection (a).
34	27		SECTION 2. Subchapter I, Chapter 51, Natural Resources
35	28		Code, is amended by adding Section 51.4131 to read as follows:
36	29		Sec. 51.4131. REPORT ON ANTICIPATED TRANSFER OF FUNDS. Not
37	30		later than September 1 of each even-numbered year, the board shall
38	31		submit to the legislature, comptroller, State Board of Education,
39	32		and Legislative Budget Board a report that, specifically and in
40	33		detail, states the date a transfer will be made and the amount of
41	34		money the board will transfer during the subsequent state fiscal
42	35		biennium from the real estate special fund account of the permanent
43	36		school fund established under Section 51.401 to the available
44	37		school fund or the State Board of Education for investment in the
45	38		permanent school fund.
46	39		SECTION 3. This Act takes effect immediately if it receives
47	40		a vote of two-thirds of all the members elected to each house, as
48	41		provided by Section 39, Article III, Texas Constitution. If this
49	42		Act does not receive the vote necessary for immediate effect, this
50	43		Act takes effect September 1, 2015.
51		-	* * * * *
	44	+	______________________________ ______________________________
	45	+	President of the Senate Speaker of the House
	46	+	I certify that H.B. No. 1551 was passed by the House on May 7,
	47	+	2015, by the following vote: Yeas 141, Nays 0, 2 present, not
	48	+	voting.
	49	+	______________________________
	50	+	Chief Clerk of the House
	51	+	I certify that H.B. No. 1551 was passed by the Senate on May
	52	+	26, 2015, by the following vote: Yeas 31, Nays 0.
	53	+	______________________________
	54	+	Secretary of the Senate
	55	+	APPROVED: _____________________
	56	+	Date
	57	+	_____________________
	58	+	Governor