Texas Senate Bill SB1333

Texas 2023 - 88th Regular

• Filed: 3/1/23
• Out of Senate Committee: 3/31/23
• Voted on by Senate: 4/12/23
• Out of House Committee: 4/24/23
• Voted on by House: 4/27/23
• Governor Action: 5/13/23

Caption

Relating to the creation of the Texas state buildings preservation endowment fund, including the transfer to the fund of the unencumbered balances of certain other funds.

Impact

The financial reorganization initiated by SB1333 is expected to streamline the management of state funds dedicated to building preservation. By merging the capital renewal trust fund with the newly created endowment, the state aims to allocate resources more effectively for the maintenance of significant buildings like the Capitol and General Land Office. The law facilitates a more predictable investment strategy, focusing on preserving the value of the fund while ensuring that sufficient resources are available for restoration projects.

Summary

Senate Bill 1333 establishes the Texas state buildings preservation endowment fund and facilitates the transfer of unencumbered balances from other existing funds. The bill consolidates funding resources aimed at maintaining, rehabilitating, and restoring state buildings under the jurisdiction of the state board. It designates the Texas Treasury Safekeeping Trust Company as the administrator of the fund, while also outlining the specific types of funding sources that can contribute to this fund, including legislative appropriations and donations.

Sentiment

The sentiment around SB1333 appears largely positive, as evidenced by the unanimous support during voting. Proponents argue that the bill will enhance the management of state properties, ensuring that historical buildings receive the attention and funding necessary for upkeep. There is recognition among legislators that maintaining these buildings contributes to preserving Texas's cultural heritage and fosters economic development through tourism.

Contention

While the discussions surrounding SB1333 were generally favorable, potential points of contention could arise regarding the specific management practices of the trust company and the allocation of funds. Critics may express concerns regarding the transparency of fund management, particularly in how decisions are made regarding expenditures on restoration projects. Additionally, the bill’s stipulation that funds cannot be used for salaries or operational costs of governmental bodies could lead to debates on the adequacy of available resources for comprehensive preservation efforts.

Texas Constitutional Statutes Affected

Government Code

• Chapter 443. State Preservation Board
  • Section: 0102
  • Section: 0103
  • Section: 0102
  • Section: 0103
  • Section: 0295
  • Section: 0102
  • Section: 0103
  • Section: 0295
  • Section: 0102
  • Section: 0103
  • Section: 0295
  • Section: 0102
  • Section: 0103
  • Section: 0295

• Chapter 2165. State Buildings, Grounds, And Property
  • Section: 2565
  • Section: 2565
  • Section: 2565
  • Section: 2565