Texas 2023 - 88th Regular

Texas House Bill HB3051 Compare Versions

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1	1	By: Bonnen H.B. No. 3051
2	2
3	3
4	4	A BILL TO BE ENTITLED
5	5	AN ACT
6	6	relating to the provision of funding to the Texas Historical
7	7	Commission for state historic sites.
8	8	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
9	9	SECTION 1. Section 442.0083(e), Government Code, is amended
10	10	to read as follows:
11	11	(e) A grant for a historic courthouse project may not exceed
12	12	the greater of $10 million [$6 million] or two percent of the amount
13	13	appropriated for implementing the historic courthouse preservation
14	14	program during the state fiscal biennium.
15	15	SECTION 2. Subchapter A, Chapter 442, Government Code, is
16	16	amended by adding Section 442.0151 to read as follows:
17	17	Sec. 442.0151. HISTORIC INFRASTRUCTURE SUSTAINABILITY
18	18	TRUST FUND. (a) The historic infrastructure sustainability trust
19	19	fund is created as a trust fund outside the treasury held by the
20	20	Texas Treasury Safekeeping Trust Company and administered by the
21	21	comptroller as trustee on behalf of the people of this state to
22	22	generate earnings on money in the fund for the purpose of
23	23	maintaining, preserving, rehabilitating, and restoring historic
24	24	sites throughout the state. In this section, "trust company" means
25	25	the Texas Treasury Safekeeping Trust Company, and "commission"
26	26	means the Texas Historical Commission.
27	27	(b) The fund consists of:
28	28	(1) money appropriated or transferred to the fund at
29	29	the direction of the legislature;
30	30	(2) gifts, grants, and donations received by the
31	31	commission for a purpose for which money in the fund may be used
32	32	under this section; and
33	33	(3) the returns received from investment of money in
34	34	the fund.
35	35	(b) The trust company shall hold, manage, and invest the
36	36	fund. The trust company shall determine the amount available for
37	37	distribution from the fund determined in accordance with a
38	38	distribution policy that is adopted by the comptroller and designed
39	39	to preserve the purchasing power of the fund's assets, provide a
40	40	stable and predictable stream of annual distributions, and meet
41	41	liquidity needs of the fund as appropriate. The expenses of
42	42	managing the fund and its assets shall be paid from the fund.
43	43	Except as provided by this section, money in the fund may not be
44	44	used for any other purpose.
45	45	(c) In managing the assets of the fund, through procedures
46	46	and subject to restrictions the trust company considers
47	47	appropriate, the trust company may acquire, exchange, sell,
48	48	supervise, manage, or retain any kind of investment that a prudent
49	49	investor, exercising reasonable care, skill, and caution, would
50	50	acquire or retain in light of the purposes, terms, distribution
51	51	requirements, liquidity requirements, and other circumstances of
52	52	the fund then prevailing, taking into consideration the investment
53	53	of all the assets of the fund rather than a single investment. The
54	54	commission will provide the trust company with a cash flow forecast
55	55	at least annually, and more frequently as appropriate, for purposes
56	56	of distribution and liquidity requirements.
57	57	(d) The commission may request an annual fund distribution
58	58	not to exceed the amount the trust company determines available for
59	59	distribution as provided under subsection (b). The amount
60	60	distributed may only be used for the purpose of maintaining,
61	61	preserving, rehabilitating, and restoring state historic sites
62	62	under the control of the commission and for the historic courthouse
63	63	preservation program under Section 442.0081. The commission shall
64	64	spend at least one-third of the funds distributed on the historic
65	65	courthouse preservation program. Money in the fund may not be used
66	66	to pay salaries, employee benefits, costs associated with employee
67	67	benefits, or administration, operating, or program costs of the
68	68	commission.
69	69	(e) Subject to subsection (f), not more frequently than once
70	70	per calendar year, the commission may request an additional
71	71	distribution from the fund in excess of the amount the trust company
72	72	determines is available for distribution under the terms of
73	73	subsection (b), to be used for the purposes described in subsection
74	74	(d). The amount requested pursuant to this subsection shall not
75	75	exceed the amount distributed to the commission pursuant to the
76	76	comptroller's policy in the preceding calendar year.
77	77	(f) The commission may approve a distribution of the fund
78	78	authorized under Subsection (e) after the commission certifies to
79	79	the Legislative Budget Board that:
80	80	(1) the commission has reviewed and approved the use of the
81	81	money;
82	82	(2) all purchases made with the money will conform to any
83	83	applicable provision of law governing state procurement and
84	84	contracting; and
85	85	(3) the money will not be used to:
86	86	(A) pay salaries, employee benefits, costs associated with
87	87	employee benefits, or administration, operating or program costs of
88	88	the commission or the buildings or grounds subject to its
89	89	authority;
90	90	(B) acquire new historic sites or real property; or
91	91	(C) purchase capital equipment that is not related to the
92	92	rehabilitation or restoration of a building or grounds.
93	93	(g) All expenditures by the commission under this section
94	94	are subject to audit by the state auditor.
95	95	(h) The commission shall include in the strategic plan
96	96	submitted under Section 2056.002 a report on each project funded
97	97	using money in the fund during the two-year period preceding the
98	98	date on which the commission submits the plan and a list of each
99	99	project the commission anticipates will be funded using money in
100	100	the fund for the period covered by the plan.
101	101	SECTION 3. Section 442.073, Government Code, is amended by
102	102	amending Subsection (d) and adding Subsection (e) to read as
103	103	follows:
104	104	(d) Except as provided by Subsection (e), money [Money] in
105	105	the account may be used only to administer, operate, preserve,
106	106	repair, expand, or otherwise maintain a historic site or to acquire
107	107	a historical item appropriate to a historic site.
108	108	(e) The commission may make an expenditure from the account
109	109	for a historic site that is not described by Section 442.072(a).
110	110	The commission shall provide notice of an expenditure described by
111	111	this subsection to the Legislative Budget Board not later than the
112	112	30th day after the date the commission makes the expenditure. The
113	113	Legislative Budget Board may establish the procedure by which the
114	114	commission provides notice to the board under this subsection.
115	115	SECTION 4. This Act takes effect September 1, 2023.