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Senate Bill 1332 |
Senate Author: Huffman et al. |
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Effective: 9-1-23 |
House Sponsor: Bonnen |
Senate Bill 1332 amends the Government Code to create the historic infrastructure sustainability trust fund as a trust fund outside the treasury held, managed, and invested by the Texas Treasury Safekeeping Trust Company and administered by the comptroller of public accounts as trustee on behalf of the people of Texas to generate earnings on money in the fund for the purpose of maintaining, preserving, rehabilitating, and restoring historic sites throughout Texas. The bill sets out the fund's composition, distribution, and management. The bill, among other provisions:
· subjects all expenditures by the commission from the fund to audit by the state auditor and requires the commission to include in its strategic plan of operations a report on each project funded with money from the fund during the two‑year period preceding the plan's submission date and a list of each project the commission anticipates will be funded using that money for the period covered by the plan;
· authorizes the commission, with specified notice to the Legislative Budget Board, to make an expenditure from the historic site account for a historic site not included on the list of sites under the commission's jurisdiction;
· requires the commission to allocate at least one‑third of each annual distribution from the fund for the historic courthouse preservation program; and
· raises to $10 million the cap on the amount of a grant from the historic courthouse preservation fund for a historic courthouse project, which applies only if that cap is greater than two percent of the amount appropriated for implementing the historic courthouse preservation program during the given state fiscal biennium.