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House Bill 1472 |
House Author: Capriglione et al. |
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Effective: 9-1-17 |
Senate Sponsor: Nelson |
House Bill 1472 amends the Government Code to authorize the governing board of a public junior college district to invest funds received by the district from a lease or contract for the management and development of land owned by the district and leased for oil, gas, or other mineral development in any investment authorized to be made by a trustee under the Texas Trust Code, in addition to other investments authorized under the Public Funds Investment Act. The bill requires funds invested under the bill's provisions to be segregated and accounted for separately from other funds of the district.