By:  Montford                                          S.B. No. 671
       73R6410 SOS-F
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to the requirement that institutions of higher education
    1-3  deposit certain funds and receipts in the state treasury.
    1-4        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-5        SECTION 1.  Section 51.008, Education Code, is amended by
    1-6  adding Subsection (g) to read as follows:
    1-7        (g)  All revenues collected by or on behalf of institutions
    1-8  of higher education and deposited in the state treasury, and the
    1-9  interest on those funds, are dedicated to the institution that
   1-10  collected and deposited the funds irrespective of the year the
   1-11  funds were collected, deposited, or earned.  These funds may be
   1-12  used only for the support, maintenance, and operation of the
   1-13  institution as provided for by law.  Sections 403.094(h) and (i),
   1-14  Government Code, do not apply to funds under 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.