Texas 2015 - 84th Regular

Texas House Bill HB3644 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	84R9506 PMO-D
2	2	By: Guillen H.B. No. 3644
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to establishing a student grant program administered by
8	8	the Texas Higher Education Coordinating Board funded by depository
9	9	interest and earnings on certain unclaimed original land grant
10	10	mineral proceeds.
11	11	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
12	12	SECTION 1. Subchapter C, Chapter 61, Education Code, is
13	13	amended by adding Section 61.0908 to read as follows:
14	14	Sec. 61.0908. STUDENT GRANT PROGRAM FOR CERTAIN HEIRS OF
15	15	GRANTEES OF ORIGINAL LAND GRANTS. (a) In this section, "original
16	16	land grant" means an initial conveyance of real property in this
17	17	state, as evidenced by a certificate, title, or patent from:
18	18	(1) the Crown of Spain;
19	19	(2) Mexico;
20	20	(3) the Republic of Texas; or
21	21	(4) this state.
22	22	(b) The board shall establish and administer a grant program
23	23	to increase the participation at institutions of higher education
24	24	by heirs of grantees of original land grants whose descendency is
25	25	established by a final, unappealable judgment.
26	26	(c) The board by rule shall:
27	27	(1) design the program established under Subsection
28	28	(b);
29	29	(2) prescribe the procedure an heir must use to apply
30	30	for a grant;
31	31	(3) prescribe the criteria for awarding a grant; and
32	32	(4) specify the purposes for which a grant may be used.
33	33	(d) The comptroller may distribute to the board money
34	34	appropriated for the purposes of the program in an amount equal to
35	35	the amount of depository interest and other earnings as provided
36	36	under Section 74.604(c), Property Code.
37	37	(e) The board may:
38	38	(1) solicit and accept gifts and grants from any
39	39	private or public source for the purposes of this section; and
40	40	(2) contract with another entity for the
41	41	administration of the program.
42	42	(f) The total amount of grants provided under this section
43	43	may not exceed the amount of money available for the program under
44	44	this section.
45	45	SECTION 2. Subchapter D, Chapter 74, Property Code, is
46	46	amended by adding Section 74.3014 to read as follows:
47	47	Sec. 74.3014. DELIVERY OF UNCLAIMED MINERAL PROCEEDS. (a)
48	48	The comptroller shall determine the amount of unclaimed mineral
49	49	proceeds delivered to the comptroller without the information that
50	50	the comptroller requires under Section 74.501(c) for a claimant to
51	51	assert a claim for the mineral proceeds.
52	52	(b) The comptroller shall annually publish a disclosure of
53	53	the amount determined under Subsection (a) in a manner determined
54	54	appropriate by the comptroller, including posting on the
55	55	comptroller's Internet website or publishing in a newspaper of
56	56	general circulation in each county in which is located a well the
57	57	production from which resulted in proceeds included in the amount
58	58	determined under Subsection (a).
59	59	SECTION 3. Section 74.601(b), Property Code, is amended to
60	60	read as follows:
61	61	(b) Except as provided by Section 74.604, the [The]
62	62	comptroller shall deposit to the credit of the general revenue
63	63	fund:
64	64	(1) all funds, including marketable securities,
65	65	delivered to the comptroller under this chapter or any other
66	66	statute requiring the delivery of unclaimed property to the
67	67	comptroller;
68	68	(2) all proceeds from the sale of any property,
69	69	including marketable securities, under this chapter;
70	70	(3) all funds that have escheated to the state under
71	71	Chapter 71, except that funds relating to escheated real property
72	72	shall be deposited according to Section 71.202; and
73	73	(4) any income derived from investments of the
74	74	unclaimed money.
75	75	SECTION 4. Section 74.602, Property Code, is amended to
76	76	read as follows:
77	77	Sec. 74.602. USE OF MONEY. Except as provided by Section
78	78	61.0908, Education Code, Section 381.004, Local Government Code,
79	79	and Section 74.604 of this code, the comptroller shall use the
80	80	unclaimed money received under this chapter or any other statute
81	81	requiring the delivery of unclaimed property to the comptroller to
82	82	pay the claims of persons or states establishing ownership of
83	83	property in the possession of the comptroller under this chapter or
84	84	under any other unclaimed property or escheat statute.
85	85	SECTION 5. Subchapter G, Chapter 74, Property Code, is
86	86	amended by adding Section 74.604 to read as follows:
87	87	Sec. 74.604. USE OF CERTAIN UNCLAIMED MINERAL PROCEEDS.
88	88	(a) The comptroller shall deposit the amount determined under
89	89	Section 74.3014 to the credit of an account in the general revenue
90	90	fund. Money in that account may be appropriated only to pay the
91	91	claims of persons establishing ownership of the mineral proceeds,
92	92	except as provided by Subsection (b).
93	93	(b) Interest and other earnings on money in the account are
94	94	exempt from Sections 404.071(e)-(g), Government Code, and the
95	95	comptroller shall retain in the account all depository interest and
96	96	other earnings accruing on the amount in the account. The
97	97	accumulated interest and other earnings in the account may be
98	98	appropriated only for distribution to the Texas Higher Education
99	99	Coordinating Board for use in accordance with Section 61.0908,
100	100	Education Code.
101	101	SECTION 6. (a) The changes in law made by this Act apply to
102	102	unclaimed mineral proceeds in the possession of the comptroller of
103	103	public accounts on or after the effective date of this Act.
104	104	(b) The Texas Higher Education Coordinating Board shall
105	105	ensure that the student grant program described by Section 61.0908,
106	106	Education Code, as added by this Act, is established not later than
107	107	January 1, 2016.
108	108	SECTION 7. This Act takes effect September 1, 2015.