Relating to the purchase of certain insurance coverage and the performance of related risk management services for certain university systems and the component institutions of those systems.
Impact
The amendment enshrined in SB781 allows the Texas State University System and its component institutions to bypass board approval when purchasing non-health or non-life insurance, provided they notify the relevant state office. This change is intended to streamline the insurance acquisition process, thereby potentially increasing efficiency and responsiveness to the specific needs of the university systems. The legislation recognizes the unique operational contexts of these institutions and empowers them to engage with insurance products that best serve their requirements without unnecessary bureaucratic hindrance.
Summary
Senate Bill 781 aims to modify the regulations regarding the purchase of certain insurance coverages and the performance of related risk management services for specific university systems and their component institutions within Texas. It allows these universities a degree of autonomy concerning their insurance purchases, particularly in property, casualty, and liability insurances, exempting them from the usual approval processes that other state agencies must adhere to. This bill reflects a significant shift in how university systems manage risk and insurance responsibilities.
Contention
While the bill's proponents argue that it will foster flexibility and effectiveness in risk management practices across university systems, critics might express concerns over whether this change could lead to inadequate oversight in insurance practices. The removal of mandatory approval processes could make it easier for universities to take risks or engage in practices that may not be as rigorously examined as they would be under the previous regulations. Discussions around this bill could revolve around finding the balance between efficient management and necessary oversight.
Identical
Relating to the purchase of certain insurance coverage and the performance of related risk management services for the Texas State University System and the component institutions of that system.
Proposing a constitutional amendment creating a university research fund to support emerging research universities in The University of Texas System or The Texas A&M University System and disqualifying all component institutions of those university systems from receiving money from the national research university fund.
Relating to the creation of a new university in Nacogdoches, Texas, within The University of Texas System and the allocation of the annual constitutional appropriation to certain agencies and institutions of higher education; abolishing Stephen F. Austin State University.
Relating to the creation of a new university in Nacogdoches, Texas, within The University of Texas System and the allocation of the annual constitutional appropriation to certain agencies and institutions of higher education; abolishing Stephen F. Austin State University.
Proposing a constitutional amendment to entitle all component institutions of The Texas A&M University System and The University of Texas System to participate in the income and other benefits of the permanent university fund.
Proposing a constitutional amendment providing for the creation of funds to support the capital needs of educational programs offered by the Texas State Technical College System and certain component institutions of the Texas State University System and repealing the limitation on the allocation to the Texas State Technical College System and its campuses of the annual appropriation of certain constitutionally dedicated funding for public institutions of higher education.
Relating to an annual study by the Texas A&M University Texas Real Estate Research Center of the purchase and sale of single-family homes by certain institutional buyers.