By: Burrows H.J.R. No. 13
A JOINT RESOLUTION
proposing a constitutional amendment establishing the Texas
university fund to provide funding for research activities
conducted by public institutions of higher education in the Texas
Tech University System or the University of Houston System.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Article VII, Texas Constitution, is amended by
adding Section 21 to read as follows:
Sec. 21. (a) In this section, "fund" means the Texas
university fund.
(b) The Texas university fund is established to provide a
dedicated source of funding for research activities conducted by
public institutions of higher education in the Texas Tech
University System or the University of Houston System.
(c) The fund consists of money transferred or deposited to
the credit of the fund and any interest or other return on the
investment assets of the fund.
(d) The fund shall be administered by a board of directors.
The board consists of six members, appointed as follows:
(1) three members of the board of regents of the Texas
Tech University System, selected by the chair of that board of
regents;
(2) three members of the board of regents of the
University of Houston System, selected by the chair of that board of
regents; and
(e) The fund shall be invested in the manner and according
to the standards provided for investment of the permanent
university fund. The expenses of managing the investments of the
fund shall be paid from the fund.
(f) For each state fiscal biennium, the legislature may
appropriate all or a portion of the total return on all investment
assets of the fund to the Texas Tech University System and the
University of Houston System in equal amounts to pay for research
activities conducted by component institutions of the respective
systems. The board of regents of each system shall determine the
manner of allocating money appropriated to the system from the fund
to component institutions of the system.
SECTION 2. This proposed constitutional amendment shall be
submitted to the voters at an election to be held May 7, 2022. The
ballot shall be printed to permit voting for or against the
proposition: "The constitutional amendment establishing the Texas
university fund to provide funding for research activities
conducted by public institutions of higher education in the Texas
Tech University System or the University of Houston System."