84R4888 KEL-D
By: Muñoz, Jr. H.B. No. 3492
A BILL TO BE ENTITLED
AN ACT
relating to a permanent endowment to support the construction,
acquisition, improvement, and equipping of buildings, facilities,
and other improvements at public junior colleges.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Chapter 62, Education Code, is amended by adding
Subchapter H to read as follows:
SUBCHAPTER H. DISTRIBUTIONS FROM
PERMANENT PUBLIC COMMUNITY COLLEGE FUND
Sec. 62.161. PURPOSE. The purpose of this subchapter is to
provide for an equitable allocation of the funds available under
Section 21, Article VII, Texas Constitution, to support the
construction, acquisition, improvement, and equipping of
buildings, facilities, and other improvements at public junior
colleges.
Sec. 62.162. DEFINITIONS. In this subchapter:
(1) "Eligible institution" means a junior college
district.
(2) "Fund" means the permanent public community
college fund.
Sec. 62.163. ALLOCATIONS. (a) Beginning with the first
state fiscal year for which the comptroller certifies that, based
on the assets in the fund, there is sufficient purchasing power in
the fund to allocate money for the purposes of this subchapter, an
eligible institution is entitled to receive an amount allocated in
accordance with this subchapter from the amounts distributed for
that year from the permanent public community college fund created
by Section 21, Article VII, Texas Constitution.
(b) The comptroller shall distribute amounts allocated
under this subchapter only on presentation of a claim and issuance
of a warrant in accordance with Section 403.071, Government Code.
An eligible institution may not present a claim to be paid from any
amount allocated under this subchapter before the delivery of goods
or services, except for the payment of principal or interest on
bonds or notes or for a payment for a book or other published
library material as authorized by Section 2155.386, Government
Code.
(c) In each state fiscal year, the comptroller shall
distribute to eligible institutions the total amount appropriated
from the fund for that fiscal year. The amount shall be allocated
to the eligible institutions based on an equitable formula adopted
by the legislature to carry out the purposes of the fund as
established by Section 21, Article VII, Texas Constitution. The
coordinating board may make recommendations regarding the
equitable formula and may provide assistance regarding the formula
as directed by the legislature.
Sec. 62.164. USE OF ALLOCATED AMOUNTS. (a) An eligible
institution may use money received under this subchapter only for
the purposes prescribed by Section 21, Article VII, Texas
Constitution.
(b) Money received in a fiscal year by an eligible
institution under this subchapter that is not used in that fiscal
year by the institution may be held and used by the institution in
subsequent fiscal years for the purposes prescribed by this
subchapter.
SECTION 2. This Act takes effect January 1, 2016, but only
if the constitutional amendment proposed by the 84th Legislature,
Regular Session, 2015, to support the construction, acquisition,
improvement, and equipping of buildings, facilities, and other
improvements at public junior and community colleges is approved by
the voters. If that constitutional amendment is not approved by the
voters, this Act has no effect.