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Senate Bill 1232 |
Senate Author: Taylor |
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Effective: See below |
House Sponsor: Bonnen |
Senate Bill 1232 amends the Education Code, Government Code, and Natural Resources Code to provide for the creation of the Texas Permanent School Fund Corporation to serve as the sole entity responsible for management of the Permanent School Fund (PSF), which is currently a joint responsibility of both the State Board of Education (SBOE) and the School Land Board. The bill's provisions take effect September 1, 2021, except that the bill's provisions relating to the School Land Board's management of the PSF take effect December 31, 2022, contingent on the SBOE incorporating the Texas Permanent School Fund Corporation on or before that date.