Enrolled Bill Summary

            Senate Bill 691 amends the Government Code to establish a Texas public library endowment fund, earnings from which are directed to a Texas public library fund for grants to public libraries for facility construction, book acquisition, collection development, and library administration. The endowment fund, held outside the treasury and administered by the Texas State Library and Archives Commission with professional investment assistance, consists of donations of money, securities, and other property. Investment proceeds are transferred annually to the grant fund, which may also accept legislative appropriations and net sales from promotional items. The grant fund is within the state treasury but separate from general revenue and dedicated wholly to public library purposes. The commission may make matching grants for facility construction projects and direct grants for other library purposes authorized by the act. Participant public libraries must satisfy specified minimum local funding levels. The act also amends the Local Government Code to authorize a library district to accept and administer gifts, grants, and donations.