| 6 | 4 | | AN ACT |
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| 7 | 5 | | relating to matching private grants given to enhance additional |
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| 8 | 6 | | research activities at institutions of higher education. |
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| 9 | 7 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 8 | | SECTION 1. Sections 62.123(a) and (b), Education Code, are |
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| 11 | 9 | | amended to read as follows: |
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| 12 | 10 | | (a) An eligible institution that receives gifts or |
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| 13 | 11 | | endowments from private sources in a state fiscal year for the |
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| 14 | 12 | | purpose of enhancing research activities at the institution, |
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| 15 | 13 | | including a gift or endowment for endowed chairs, professorships, |
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| 16 | 14 | | facilities, equipment, program costs, [or] graduate stipends or |
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| 17 | 15 | | fellowships, or undergraduate research, is entitled to receive, out |
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| 18 | 16 | | of funds appropriated for the purposes of the program for that |
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| 19 | 17 | | fiscal year, a matching grant in an amount determined according to |
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| 20 | 18 | | the following rates: |
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| 21 | 19 | | (1) 50 percent of the amount of the gifts and |
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| 22 | 20 | | endowments, if the total amount of gifts and endowments is $100,000 |
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| 23 | 21 | | or more but not more than $999,999; |
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| 24 | 22 | | (2) 75 percent of the amount of the gifts and |
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| 25 | 23 | | endowments, if the total amount of gifts and endowments is $1 |
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| 26 | 24 | | million or more but not more than $1,999,999; or |
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| 27 | 25 | | (3) 100 percent of the amount of the gifts and |
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| 28 | 26 | | endowments, if the total amount of gifts and endowments is $2 |
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| 29 | 27 | | million or more. |
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| 30 | 28 | | (b) An eligible institution is not entitled to matching |
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| 31 | 29 | | funds under the program for: |
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| 32 | 30 | | (1) a gift that has been pledged but has not been |
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| 33 | 31 | | received by the institution; |
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| 34 | 32 | | (2) a gift for undergraduate scholarships or |
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| 35 | 33 | | undergraduate financial aid grants; or |
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| 36 | 34 | | (3) any portion of gifts or endowments received by the |
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| 37 | 35 | | institution from a single source in a state fiscal year in excess of |
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| 38 | 36 | | $10 million. |
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| 39 | 37 | | SECTION 2. This Act takes effect September 1, 2015. |
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| 38 | + | ______________________________ ______________________________ |
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| 39 | + | President of the Senate Speaker of the House |
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| 40 | + | I hereby certify that S.B. No. 44 passed the Senate on |
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| 41 | + | March 23, 2015, by the following vote: Yeas 31, Nays 0. |
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| 42 | + | ______________________________ |
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| 43 | + | Secretary of the Senate |
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| 44 | + | I hereby certify that S.B. No. 44 passed the House on |
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| 45 | + | May 22, 2015, by the following vote: Yeas 135, Nays 5, two |
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| 46 | + | present not voting. |
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| 47 | + | ______________________________ |
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| 48 | + | Chief Clerk of the House |
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| 49 | + | Approved: |
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| 50 | + | ______________________________ |
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| 51 | + | Date |
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| 52 | + | ______________________________ |
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| 53 | + | Governor |
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