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.

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