SRC-ARR S.B. 1493 76(R)   BILL ANALYSIS


Senate Research Center   S.B. 1493
76R6888 CAG-FBy: Duncan
Higher Education
4/9/1999
As Filed


DIGEST 

The economic future of Texas depends on an educated workforce and a
cutting-edge technology business environment. In order to compete with
other regional and international markets, funds should be created to
enhance the quality of student instruction, attract and retain more high
quality faculty, leverage federal research support, and increase technology
transfer to the private sector. S.B. 1493 would create and provide for the
administration of the research university fund.  
 
PURPOSE

As proposed, S.B. 1493 creates and provides for the administration of the
research university fund.  

RULEMAKING AUTHORITY

Rulemaking authority is granted to the comptroller of public accounts and
the Texas Higher Education Coordinating Board in SECTION 3 of this bill.  

SECTION BY SECTION ANALYSIS

SECTION 1. Amends Title 3H, Education Code, by adding Chapter 151, as
follows: 

CHAPTER 151. RESEARCH UNIVERSITY FUND

 Sec.151.001. PURPOSE. Sets forth the purpose of the research university
fund (fund).  

Sec. 151.002. DEFINITIONS. Defines "Carnegie classification," "coordinating
board," and "eligible institution." 

Sec. 151.003. RESEARCH UNIVERSITY FUND. Provides that the fund is a fund
outside the state treasury in the custody of the comptroller. Authorizes
the legislature to appropriate not less than $50 million to the fund.
Requires the coordinating board to recommend to the legislature a method of
formula to allocate the money in the fund to the eligible institutions.
Authorizes an amount allocated from the fund to an eligible institution to
be used only to further the purpose of this chapter. Requires the
comptroller to administer and invest the fund in the same manner as the
permanent university fund.  

SECTION 2. Repealer: Section 62.025, Education Code (Deposit of $50
Million); Section 62.026, Education Code (Higher Education Fund). 

SECTION 3. Requires the comptroller and the Texas Higher Education
Coordinating Board, not later than September 1, 1999, to adopt rules
necessary to administer Chapter 151, Education Code, as added by this Act.  

SECTION 4. Emergency clause.
                      Effective date: upon passage.