SRC-AAA H.B. 8 75(R)   BILL ANALYSIS


Senate Research Center   H.B. 8
By: Stiles (Barrientos)
Finance
4-13-97
Engrossed


DIGEST 

Currently, the Texas Tomorrow Fund's assets are not guaranteed by the
state constitution.  Other investment funds in Texas are guaranteed by the
state constitution.  This bill would extend the state's full faith and
credit to the Texas Tomorrow Fund.  

PURPOSE

As proposed, H.B. 8  extends the state's full faith and credit to the
Texas Tomorrow Fund.  

RULEMAKING AUTHORITY

This bill does not grant any additional rulemaking authority to a state
officer, institution, or agency. 

SECTION BY SECTION ANALYSIS

SECTION 1. Amends Section 54.619(g), Education Code, to provide that in
any fiscal year, if not enough money exists to pay tuition and required
fees as provided by a prepaid tuition contract, the comptroller is
required to transfer money to the Texas Tomorrow Fund out of the first
money coming into the state treasury not otherwise appropriated by the
constitution, rather than the legislature appropriating funds. 

SECTION 2. Provides that this Act takes effect on the date on which the
constitutional amendment proposed by H.J.R. 8, 75th Legislature, Regular
Session, 1997, takes effect.  Provides that if that amendment is not
approved by the voters, this Act has no effect. 

SECTION 3. Emergency clause.