Texas 2019 - 86th Regular

Texas Senate Bill SB2440

Caption

Relating to the Texas school finance system, including the creation of the bicentennial education fund, the establishment of the Texas Education Investment Management Organization, and the management and investment of the permanent school fund.

Impact

One of the core implications of SB2440 is the establishment of the Texas Education Investment Management Organization, which will manage and invest the permanent school fund. This is designed to maximize revenue distributions for public education, promoting financial accountability and strategic investments in educational resources. Furthermore, the bill fortifies the legal structure around the funding mechanism, ensuring that financial distributions comply with the Texas Constitution.

Summary

SB2440, titled 'Relating to the Texas school finance system', introduces significant changes to how education is funded in Texas. It creates the Bicentennial Education Fund, which is designated to support merit-based teacher pay and academic enhancement initiatives for historically underperforming student groups. This fund aims to allocate resources that promote educational equity across different demographics, thereby addressing long-standing disparities within the Texas education system.

Contention

During discussions surrounding SB2440, there were notable points of contention, particularly regarding the management structure of the new fund and the investment strategies employed by the Texas Education Investment Management Organization. Critics voiced concerns about the potential lack of oversight and transparency in how funds will be allocated and invested. Proponents, however, argue that a centralized organization can better manage the complexities of educational funding, leading to more effective use of resources and improved educational outcomes.

Companion Bills

TX SJR78

Enabling for Proposing a constitutional amendment relating to the permanent school fund.

Previously Filed As

TX SB2339

Relating to the investment or deposit of school district reserve funds and the establishment of a school reserves investment fund.

TX HB1

Relating to primary and secondary education, including the certification, compensation, and health coverage of certain public school employees, the public school finance system, special education in public schools, the establishment of an education savings account program, measures to support the education of public school students that include certain educational grant programs, reading instruction, and early childhood education, the provision of virtual education, and public school accountability.

TX HB11

Relating to the rights and certification of public school educators, including financial and other assistance and waivers provided to public schools by the Texas Education Agency related to public school educators, methods of instruction provided in public schools, and certain allotments under the Foundation School Program.

TX HB4188

Relating to the rights, certification, and compensation of public school educators, including financial and other assistance provided to public schools by the Texas Education Agency related to public school educators and to certain allotments under the Foundation School Program.

TX SB9

Relating to the rights and certification of public school educators, including financial and other assistance and waivers provided to public schools by the Texas Education Agency related to public school educators, methods of instruction provided in public schools, and certain allotments under the Foundation School Program.

TX HB1

Relating to primary and secondary education, including the certification, compensation, and health coverage of certain public school employees, the public school finance system, special education in public schools, the establishment of an education savings account program, measures to support the education of public school students that include certain educational grant programs, reading instruction, and early childhood education, the provision of virtual education, and public school accountability.

TX HB5227

Relating to the allocation of certain constitutional transfers of money to the economic stabilization fund, the Texas legacy fund, and the state highway fund and to the management and investment of the economic stabilization fund, the Texas legacy fund, and the Texas legacy distribution fund.

TX HB100

Relating to public education and public school finance, including the rights, certification, and compensation of public school educators, contributions by a public school to the Teacher Retirement System of Texas, and an education savings account program for certain children.

TX SB2367

Relating to the creation of programs and funding for investment in technology industries.

TX SJR81

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.

Similar Bills

TX HB2037

Relating to the creation of the Permanent School Fund Management Council to manage the permanent school fund; providing a criminal penalty.

TX HB1140

Relating to the creation of the Permanent School Fund Management Council to manage the permanent school fund; providing a criminal penalty.

TX SB1232

Relating to the management and investment of the permanent school fund, including authorizing the creation of the Texas Permanent School Fund Corporation to manage and invest the fund and limiting the authority of the School Land Board to manage and invest the fund if the corporation is created.

TX HB2068

Relating to the governance and territory of the Harris County Flood Control District.

TX SB203

Relating to the Port of Houston Authority; creating an offense.

TX HB1642

Relating to the Port of Houston Authority.

TX SB1

Relating to certain state fiscal matters; providing penalties.

TX HB1

Relating to certain state fiscal matters; providing penalties.