1-1 By: Duncan S.B. No. 1871
1-2 (In the Senate - Filed March 14, 1997; March 24, 1997, read
1-3 first time and referred to Committee on Finance; April 25, 1997,
1-4 reported favorably by the following vote: Yeas 12, Nays 0;
1-5 April 25, 1997, sent to printer.)
1-6 A BILL TO BE ENTITLED
1-7 AN ACT
1-8 relating to adjustments in the investment capital fund.
1-9 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-10 SECTION 1. Subsection (l), Section 42.152, Education Code,
1-11 is amended to read as follows:
1-12 (l) From the total amount of funds appropriated for
1-13 allotments under this section, the commissioner shall, each fiscal
1-14 year, withhold the amount of $5 [2.5] million for transfer to the
1-15 investment capital fund under Section 7.024.
1-16 SECTION 2. This Act takes effect September 1, 1997.
1-17 SECTION 3. The importance of this legislation and the
1-18 crowded condition of the calendars in both houses create an
1-19 emergency and an imperative public necessity that the
1-20 constitutional rule requiring bills to be read on three several
1-21 days in each house be suspended, and this rule is hereby suspended.
1-22 * * * * *