S.B. No. 671
AN ACT
1-1 relating to the requirement that institutions of higher education
1-2 deposit certain funds and receipts in the state treasury.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Section 51.008, Education Code, is amended by
1-5 adding Subsection (g) to read as follows:
1-6 (g) Revenues collected at institutions of higher education
1-7 and deposited in the state treasury pursuant to this section and
1-8 Section 34.017, Natural Resources Code, and the interest earned
1-9 thereon, are dedicated to the institution which collected and
1-10 deposited the funds irrespective of the year the funds were
1-11 collected, deposited, or earned. These funds may be only used for
1-12 the support, maintenance, and operation of the institution as
1-13 provided for by law. Section 403.094(h), Government Code, does not
1-14 apply to funds described in this section.
1-15 SECTION 2. This Act takes effect September 1, 1993.
1-16 SECTION 3. The importance of this legislation and the
1-17 crowded condition of the calendars in both houses create an
1-18 emergency and an imperative public necessity that the
1-19 constitutional rule requiring bills to be read on three several
1-20 days in each house be suspended, and this rule is hereby suspended,
1-21 and that this Act take effect and be in force according to its
1-22 terms, and it is so enacted.