S.B. No. 44
AN ACT
relating to matching private grants given to enhance additional
research activities at institutions of higher education.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Sections 62.123(a) and (b), Education Code, are
amended to read as follows:
(a) An eligible institution that receives gifts or
endowments from private sources in a state fiscal year for the
purpose of enhancing research activities at the institution,
including a gift or endowment for endowed chairs, professorships,
facilities, equipment, program costs, [or] graduate stipends or
fellowships, or undergraduate research, is entitled to receive, out
of funds appropriated for the purposes of the program for that
fiscal year, a matching grant in an amount determined according to
the following rates:
(1) 50 percent of the amount of the gifts and
endowments, if the total amount of gifts and endowments is $100,000
or more but not more than $999,999;
(2) 75 percent of the amount of the gifts and
endowments, if the total amount of gifts and endowments is $1
million or more but not more than $1,999,999; or
(3) 100 percent of the amount of the gifts and
endowments, if the total amount of gifts and endowments is $2
million or more.
(b) An eligible institution is not entitled to matching
funds under the program for:
(1) a gift that has been pledged but has not been
received by the institution;
(2) a gift for undergraduate scholarships or
undergraduate financial aid grants; or
(3) any portion of gifts or endowments received by the
institution from a single source in a state fiscal year in excess of
$10 million.
SECTION 2. This Act takes effect September 1, 2015.
______________________________ ______________________________
President of the Senate Speaker of the House
I hereby certify that S.B. No. 44 passed the Senate on
March 23, 2015, by the following vote: Yeas 31, Nays 0.
______________________________
Secretary of the Senate
I hereby certify that S.B. No. 44 passed the House on
May 22, 2015, by the following vote: Yeas 135, Nays 5, two
present not voting.
______________________________
Chief Clerk of the House
Approved:
______________________________
Date
______________________________
Governor