Enrolled Bill Summary

            House Bill 2439 amends the Government Code to establish the inaugural endowment fund as an account in the general fund to serve as a depository for any outstanding balance in the inaugural fund that exceeds $100,000 plus the amount necessary to cover that fund's quadrennial obligations. The bill requires the surplus balance to be transferred to the endowment fund on the date the inaugural committee appointed for an inauguration is dissolved and allows expenditures from the fund for a limited number of purposes other than inauguration-related activities, at the discretion of an inaugural endowment fund committee.

            The bill also creates the four-member inaugural endowment fund committee composed of the chair of the Texas Historical Commission, a gubernatorial appointee, and one appointee of each of the legislature's presiding officers, with appointees serving two-year terms expiring on the third Tuesday in January of odd-numbered years. The bill requires the committee to file a report with the secretary of state not later than October 1 of each year detailing expenditures made during the preceding state fiscal year.