| 1 | | - | By: Capriglione, et al. (Senate Sponsor - Nelson) H.B. No. 1472 |
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| 2 | | - | (In the Senate - Received from the House May 8, 2017; |
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| 3 | | - | May 8, 2017, read first time and referred to Committee on Finance; |
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| 4 | | - | May 11, 2017, reported favorably by the following vote: Yeas 10, |
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| 5 | | - | Nays 0; May 11, 2017, sent to printer.) |
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| 6 | | - | Click here to see the committee vote |
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| 1 | + | H.B. No. 1472 |
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| 10 | 4 | | AN ACT |
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| 11 | 5 | | relating to investment by a public junior college district of |
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| 12 | 6 | | public funds received from the management and development of |
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| 13 | 7 | | mineral rights. |
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| 14 | 8 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 15 | 9 | | SECTION 1. Subchapter A, Chapter 2256, Government Code, is |
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| 16 | 10 | | amended by adding Section 2256.0206 to read as follows: |
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| 17 | 11 | | Sec. 2256.0206. AUTHORIZED INVESTMENTS: PUBLIC JUNIOR |
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| 18 | 12 | | COLLEGE DISTRICT FUNDS FROM MANAGEMENT AND DEVELOPMENT OF MINERAL |
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| 19 | 13 | | RIGHTS. (a) In addition to other investments authorized under |
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| 20 | 14 | | this subchapter, the governing board of a public junior college |
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| 21 | 15 | | district may invest funds received by the district from a lease or |
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| 22 | 16 | | contract for the management and development of land owned by the |
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| 23 | 17 | | district and leased for oil, gas, or other mineral development in |
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| 24 | 18 | | any investment authorized to be made by a trustee under Subtitle B, |
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| 25 | 19 | | Title 9, Property Code (Texas Trust Code). |
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| 26 | 20 | | (b) Funds invested by the governing board of a public junior |
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| 27 | 21 | | college district under this section shall be segregated and |
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| 28 | 22 | | accounted for separately from other funds of the district. |
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| 29 | 23 | | SECTION 2. This Act takes effect September 1, 2017. |
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| 30 | | - | * * * * * |
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| 24 | + | ______________________________ ______________________________ |
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| 25 | + | President of the Senate Speaker of the House |
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| 26 | + | I certify that H.B. No. 1472 was passed by the House on May 6, |
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| 27 | + | 2017, by the following vote: Yeas 144, Nays 0, 2 present, not |
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| 28 | + | voting. |
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| 29 | + | ______________________________ |
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| 30 | + | Chief Clerk of the House |
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| 31 | + | I certify that H.B. No. 1472 was passed by the Senate on May |
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| 32 | + | 19, 2017, by the following vote: Yeas 31, Nays 0. |
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| 33 | + | ______________________________ |
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| 34 | + | Secretary of the Senate |
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| 35 | + | APPROVED: _____________________ |
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| 36 | + | Date |
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| 37 | + | _____________________ |
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| 38 | + | Governor |
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